We use Pricelabs dynamic pricing and our base prices are set a year in advance for each month. 

It is in a perfect location (off the square) in a very popular tourist town outside Austin, Texas. 

I have an STR in Niagara Falls and it does pretty well based on the purchase price. 

It's probably unlikely anything too bad would happen excluding natural catastrophes but why take the risk if the profit potential isn't there?

The very tragic LA fires have generated a lot of discussion about insurance costs. People have been dropped by insurance companies in wildfire areas and had to scramble to try to find insurance - some using California...

Based on this some elements of my REI strategy are going to need to be adapted!

Let's help you duplicate that success in the Houston Area.I am a Houston, Texas based Investor Broker/Agent who has worked with over 400 BiggerPockets Members and Investors. 

@Joshua Christensen wouldn't expenses naturally be less if the seller's just spent about $75,000k on cap ex improvements? 

Are you doubling down on short-term rentals in tourist-heavy areas, pivoting to long-term rentals in growing suburban markets, diving into value-add multifamily properties, or exploring something completely different?

After some research online, I am reading that the cost per square foot on a gut renovation of this nature in Stamford CT is anywhere from $150-$350, which is ultimately not very helpful, because at $150 per sq ft, this is a very appealing project with a total profit of ~$175K (46% ROI) and at $350 per sq ft, it very much isn't, because it would be a net loss of 83K (haha).QUESTIONS:What can I do refine my estimate a bit given that I am not allowed to a formal inspection on the property?