I’m curious, though—have you run into issues with the due-on-sale clause in Subject-To deals?

If the building is currently recognized as a single family residence,  then you are changing use and presumably will need to sprinkler the building and satisfy other fire rating and STC rating requirements not to mention the added costs of having to run mechanicals for multiple units, multiple kitchens, additional bathrooms etc.  

I purchased $4m Dec of 2021 and have one unit left to rehab (starting it Dec 1 and my 22 year old son will be running his 2nd rehab - it will be a live-in rehab so slower than we usually achieve).  

I'm running BRRRR deals through my modeling sheet and none of them ever come with positive cash flow.

It's possible to run it as a great business, but not without capital.

This is a crucial vehicle to your early success as a veteran.If you don't know where you will settle when you first get back, getting started learning markets that are interesting to you (and you may also like to be close to) is very wise.

This will show lenders that you are serious in running and scaling your business.Esther - Dellanue Ventures, Inc

Once everything is on then off, I’ll make sure the water meter isn’t running.

Unless he’s a wholesaler and runs a wholesaling business.  

I'm keen to connect with fellow STR owners in the area to gather insights on the ease of finding cleaning services and associated running costs.