They’ve already made a name for themselves in Mexico with projects that blend eco-friendly practices and thoughtful design, and now they’re bringing that expertise to one of the most popular markets in the U.S.For investors, this could be an exciting opportunity to work with a developer who consistently delivers quality and strong returns.Check it out:  Travel weekly by Northstar

Lots of investors simply want to go "bold" on all of their projects by using sharp color contrasts, busy tiles that catch your attention, and modern lighting that looks like it belongs in a hotel.

I personally believe that a better way to jump into mid term rentals is to take a course on buidling a property management company or cohosting business where you bring your skillset to the table without the intial investment into all the furniture and leases.

@Gary Abrams A cloud based solution would work really well in your scenario of having other family logging in and helping with management. 

Borrowing against your paid off house without an income puts way too much pressure on the success of whatever deal/project you decide to pursue. 

I am a broker and property manager here in Clarksville, TN.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

The biggest lesson learned was managing stress.

There's a lot of discussion about managing a STR from a distance.

For my POH park I have a hourly PT maintenance manager who keeps our rentals in shape.