Start by researching areas that fit your goals, understanding financing options like FHA loans, and using the 1% Rule to evaluate deals.

It's a tough part of STRs that some investors struggle to understand, but lending off residential assets based off how much the home can earn as an STR is far too risky. 

We were able to get standard mortgage financing How did you add value to the deal?

The structure for this is a discounted sale, lease back, buy back.One of the partners is a qualified intermediary as well that understands the plumbing behind it to make it 1031 compliant.If you have any questions on that - feel free to give me a buzz.

from what I understand you're not supposed to advertise any deals or promote yourself.There are definitely good to great deals though.

.: Thanks for the replies I totally understand you can not eliminate risk 100%I was just wondering if there was a safer way to handle this. 

I have a in depth background in construction and tend to understand what quantifies as a major issue more then most. 

Start by researching the market to choose the right city and property type while understanding the local economy.

@Jamie BanksI understand there are multiple parties: 1) displaced insurance policy holder (tenants)  2) ALE 3) The company that supplies all the furniture and install the washer and dryer. 

Do you understand the tenants rights in NJ?