. - For Private Lenders:- Vet investors based on their experience, reputation, and past performance. - Clearly define the terms of the partnership to avoid misunderstandings. - For Both Parties: - Use legal agreements to outline roles, responsibilities, and profit-sharing. - Communicate openly and regularly to build trust.

Id recommend connecting with someone who can help you shop more investment-specific/rental programs on a national scale.

Property Selection & Setup: Are there certain property types, layouts, or amenities that perform best for STRs?

.- Bulk Purchases & Portfolio Acquisitions: Banks and hedge funds often look to unload non-performing assets in bulk.

these can produce good returns but best chance for success is for those that have experience in this area (I am a partner on an effort adding 8 ADUs, but it is not performing to the initial underwriting (underperforming) and it is an experienced team).good luck I get it, but not everyone has the opportunity of scale and building multiple units.

Look at the amenities offered by top-performing properties in your area and aim to meet or exceed their offerings.  

Then once it's acquired and/or fixed up you could shop around for long term financing if planning on holding the property rather than flipping it. 

If you have an older home that requires a lot of maintenance, you probably want to avoid the manager who charges a markup.I recommend shopping around occasionally to see if your PM is procuring fair pricing or just marking you up to make money without justification.As for expectations, you need to read the PM agreement and understand what is charged and why.

There is a lot of public info out there on their funds and how they are (not) performing.  

In the meantime, my broker is shopping for other carriers for umbrella policies.