but with that said, it seems like you're assuming OP will be able to have a high performing / top performing STR (which i think we would all agree would beat unleveraged market returns.) 

We invest in non performing loans and do some private lending as well.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

Alternatively if they all love the deal, that's also likely a good sign.You can get a dog of a property in a crap neighborhood that will yield a 13.6% gross cap (not saying yours is), but that certainly doesn't tell the whole financial picture of how the asset will perform.

Even in challenging times, well-bought properties in strong markets tend to perform over the long haul.Key Questions to Ask YourselfWhat is my investment strategy (flipping, buy-and-hold, short-term rentals, etc.), and does it align with current market conditions?

HUD performed extensive due diligence on us, and had to approve us as buyer's and our management company and mangers.

.- Build Relationships with Vendors: Getting quotes from local contractors or vendors for common maintenance or repair tasks can give you a clearer picture of recurring costs.

My client bought a 22 unit building and used this strategy and walked out of closing with a check for $800k to perform the rest of the renovations, paid himself back his already expended rehab costs and his entire down payment.  

I think what you’re referring to is a checkbook IRA so you can bypass the custodian when performing transactions/investing and all assets/accounts will be held in the name of a special purpose LLC or Trust which is the instrument that gives you checkbook control.  

If you get a quote significantly below the numbers above you need to ensure that the contractor will actually execute the work and perform it to the required standard.