Also, most of the new built are in the suburbs where there are vast amounts of land and probably they will keep developing around for many years to come.

Personal background: Married with no kids, 100% debt free, live a rather tame lifestyle and don't spend large amounts of money, two newer vehicles (2020 & 2024) so no vehicle purchases expected for the next 10 years. 

As I see it in the current market, STR is now a way to get a really good, appreciating asset to pay for itself, not a way to produce a meaningful amount of cash flow after all expenses. 

The only time the appraisal will affect the rate is if the value came in lower and the LTV needed to increase to get the same loan amount requested, the rents on the 1007 came in lower, so DSCR was affected, or the appraiser indicated the location was rural which would result in a LTV reduction or interest rate increase.

.🤔 The title company wired the whole amount to us without deducting for the first lien or even catching that there was a first lien.  

I have spoken to lender and amount is fine.

You need a huge amount (of stabilized) real estate to generate the same cash flow as your W2.

Rent in this specific area is anywhere from $3500-$4000/mnIf we fix and flip we would walk away with a good amount of equity that I would plan on reinvesting, my sister would keep her portion.

But only you know the amount of effort you're putting in.

Liability, despite the significantly higher dollar amounts, is significantly less in commercial space.