Get something durable in a color that does not stain easy and a material that can be scotchguarded and you will be good for several years.

NCJAR has the 60 hours you need and as part of that, they will give you study material.

From what I've seen and read, most of the reason operators get in trouble is that there is some type of "event" that has occurred (usually their loan has matured or they've defaulted on their existing loan) and they need to refinance their loan and the lenders require a new appraisal to be done, which usually leads to a lower appraised value, and a lower loan amount, which "forces" the owner to pay down their debt.

It sounds like you've got a solid foundation and a great game plan, especially with your background in North Padre and passion for fishing, which could really set your STR apart.

If your just dying to do a deal since your in Dallas and a large market.  

I’m also using a 6% vacancy rate, which brings the net monthly cash flow to about $200 and a CoC return of 13.06%.Summary:I’ve created around $50k in equity (difference between ARV of $200k and total investment of $155k).I’ve got about $10k or $18,385 left in the deal (factoring in closing costs).The cash flow is healthy, and the CoC return is strong, especially as a first-time investor.Questions:Does anything look off or could I improve the numbers?

Right now, we’re carrying about $60,000 in debt ($40,000 in credit cards and a $20,000 car loan).

@Juan Mendoza in CA you have to have a closet and a window in order for a room to be a bedroom.

My name is Max Nelson, I am a Bay Area based Investor with a single Family home in Santa Cruz, CA that is a Short Term/Mid Term Rental and a Duplex in Bend, Oregon.

Good book and a lot of information.