Hey everyone,I’m new to San Antonio and trying to get my footing in the short-term rental market.

Good question, they seem to be all over the place depending on the area and I am not an insurance specialist, I think typically 1.5-2x normal rates but I could be off by a bit i have been honing in on White Hawk if you know that development and its in the pines but it does have water system with hydrants but volunteer fire department ..

When it comes to the STR game, differentiation is critical, and that can be challenging with a 550 square foot oceanfront condo. 

BUT The points they charge and interest are both way higher than normal, on some deals I ran numbers the points and interest were going to be 20k on properties where the ARV is 100k so you have to get properties at such a low price to make it work that it is so hard.

You literally stuck your foot into your own mouth.

Specifically, under a properly structured Trust the following limitations will apply during the period that the property is held by the Trust: (i) the Trust cannot raise new capital; (ii) other than in the case of a tenant bankruptcy or insolvency, the Trust cannot renegotiate or modify an existing loan nor can the Trust refinance or enter into a new loan during the period that the property is held by the Trust; (iii) the Trust cannot renegotiate or modify its existing leases or enter into new leases other than in the case of a tenant bankruptcy or insolvency (in the case of a Trust that adopted a master lease structure, this limitation applies to the master lease and not the underlying third-party leases); (iv) the Trust cannot reinvest the proceeds from the sale of the property; (v) the Trust cannot modify or improve the property other than undertaking normal maintenance or minor non-structural repairs; (vi) the Trust cannot hold its reserves other than in cash or short-term obligations; and (viii) the Trust must distribute all of its cash, other than cash held for normal reserves, on a current basis.

Talk with a commercial realtor in the area and get per square foot lease price.  

It’s completely normal to feel nervous before pulling the trigger, but doing a solid market analysis will give you more confidence in your decision.

I thought my 140k rehab funds were plenty, but I found out the hard way that it would really take $50-$60 per square foot for the interior. 

Normally we'd use a 1031 exchange, but since the cash of that property is going to be split, I wasn't sure what our options are.