This along with a multitude of other issues ate through every bit of reserves we had before we made much of a dent in these rehabs.

I’m not trying to second guess you, just trying not to make you feel like a peasant while I do important stuff. 

Travis made some really good/valid points.

Purchase price: $136,000 Cash invested: $90,000 Sale price: $260,000 full renovation from studs What made you interested in investing in this type of deal?

I get made whole by the down payment from the next buyer. 

Quote from @Anil Shah: It's unfortunate Raleigh-Durham didn't make your cut of 13 cities but Charlotte is definitely the city to choose in NC if your want the city feel.

We're excited to have made the plunge and likely will add a second STR in 2-3 years. 

I feel like I’m missing the bigger picture of what makes a property a great investment opportunity.If anyone could share some pointers or insights on how to identify a “good deal,” I’d really appreciate it!

They have been the best investments I've ever made, but hoping to have greater cash flow influence with a daily business model.Is there demand for these types of rentals in the investment community?

Feel free to keep us updated on your findings here.