There are keen differences between the two that will dictate pricing the invididual sponsor/borrower will receive.  

This is my first go around with STR & MTR's and I'd rather team up with someone already keen to deal hunting this niche. 

Now if we're talking circa 2000 that's a little bit different albeit I'm still not keen on SW's.

Im not to keen on going into debt and taking on that risk just yet.   

This approach could potentially enable me to deduct more than just my out-of-pocket costs, providing additional tax advantages if I'm understanding this correctly.I'm keen to hear from those of you who are familiar with these types of funds, particularly when it comes to the deductions they offer.

Here in Austin I've got one VR/STR and will be launching a second one mid-summer, so I'm keenly interested in others' perspective on this exciting area of REI. 

@Chris Clothier  Each states division of Corporate Securities would be keen on these things as well.

Although I am keen on learning everything reno from first hand experience, is this something I may be able to figure out myself?

@Martha Michel My wife wasn't too keen on the idea of house hacking and we ended up not doing it and buying a reasonably priced townhome in a great neighborhood.

We attempt to monitor the license denials on a quarterly basis to keep a finger on the pulse of what areas are not keen on STRs.