For new STR owners it's going to be difficult to get going with more competition - but not impossible.

However, deals like this are a little difficult to come across.

It is difficult to answer this without running numbers, I would highly recommend speaking with TrueBooks if you're set on them to advise on this.

Whether it will increase interest rate, make it more difficult to find a lender, etc.

@Mateo MonsalveThis is a difficult question to answer because we don't know what your objectives are.

@Barry Pittman  I have extensive knowledge of Jackson MS and up to Madison county.. these areas are very difficult for subsidized housing since so much of Jackson is already subsidized with section 8 and other state and city programs.. and since existing homes still sell for far under replacement value how do you build new.. ???

If you are a doing an infill build-to-rent, that's fine, but in the current environment, it is very difficult to make any cashflow so its a 100% appreciation play.

That being said, with rates and prices where they are these days BRRRR is very difficult in just about every market. 

Running comps can be a bit difficult on the island. 

No way to know if this appreciation will continue, but it is very difficult to catch up if you are not in the market.