Stop hanging out with your deadbeat buddies that spend all day drinking, talking sports, and otherwise wasting away.

The procedure, timetable, and any legal or regulatory requirements should all be understood when performing due diligence for a purchase.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

I just started experimenting with Downtown Detroit with ATTOM's "sales snapshots" and I haven't gotten that kind of performance yet.

Stop hanging out with your deadbeat buddies that spend all day drinking, talking sports, and otherwise wasting away.

This time frame is crucial because it allows for you to perform your due diligence on the property before fully committing to the contract.

I have continually preached (since 2018) that cap rate compression (and interest rates) is what landed the historic 20+IRR returns, not operations, which is why so many people have been, and are still, in hot water right now with being forced to perform via strong operations.Today, we find ourselves in a much different situation.

There are STRs there and Greenwood but not a ton of them.I do want to say that you never want to count on appreciation to make up for a poor performing STR.

The cost to perform the value add will vary less between markets than the value added will vary. 

Particularly luxury STR's with an oceanview or access to the beach perform consistently and some areas are often amongst the the highest ROI nationwide for coastal property.