It may be close to one of the nicer areas but perceived and natural barriers make the two areas very different places to invest.

Depending on the nature of the renovations, you may not be able to deduct the full $40k in 2018.

You may also be able to purchase excess coverage above that.3. regardless of how the property is insured, pay attention to the Loss or Rents or Business Income coverage to make sure the amount is adequate to cover the rents.  

I spend my winters in Colorado and want a get away spot I can go on weekends to relax be close to nature.

Syndications aren't right for everybody, and those of us who bring passive investors into deals have a responsibility to make sure our investors understand and can handle the illiquid nature of syndications.

Zach, to Taz's point; I think there is legitimacy to what he raised, long that's been my 1 critical point on R2R, that the nature of the operations seems to be rather.... opaque.

It is rather capital intensive and takes a skill set that requires a lot of repetitions to get good at(when you’re naturally bad at them like myself).

Also realize to run facebook ads you need to spend hundreds of dollars per day (or even thousands) to et adequate reach. 

It's crucial to note that the STR market is not collapsing; rather, it is going through a natural evolution. 

When I imagine how I'd start out, naturally, I am thinking about acquiring a local property - probably a single family home because the multi-family units are out of my price range (for now).