As others have alluded to, buying larger units or a house near the beach is a better play. 

Being out of state has you playing from behind if something were to happen.

Yea this is a long-term personal play more than a strict STR deal. 

I have a few options in play right now for my goal of adding another property to my portfolio this year, it seems like the Chicago market is yelling at us to invest into single family homes in B+ areas.

I always play it straight on loan applications for they can be enforced for 10 years from signing. 

At some point tax considerations play a role, because buying more properties provides tax shelter in form of new cost segregations.Speaking of cost seg, the RPA is actually hosting a cost seg presentation tonight in Milwaukee.

The borrower's financials play a big part as well.

It is a very safe play.

While I would have built $150,000 in equity, the cash flow simply doesn’t work.Now, let’s compare this to the market conditions when BRRRR was highly promoted (pre-2020).Interest Rate: 4.75%Monthly Payment: $3,057/monthRent: $3,600/monthIn this scenario, I’d be making over $500/month with $23,000 left in the deal, resulting in a gross 26% cash-on-cash return—an excellent deal.As you can see, rates and prices play a critical role in the viability of the BRRRR strategy.

I will not be surprised if a class action lawsuit gets filed again the building company and unfortunately Wagner because he is not playing the role that he should be playing.