There are a lot of owners that have great purchase prices and 3 to 4% Interest rates that bought 5, 10 or more years ago.If you want to jump into the STR market game now in competitive markets you better run your numbers conservatively and you need an appealing location and property to be competitive. 

If you do a 200 unit minimum A location it will be worth at least $1mm more than cost on day one with no occupants.  

Investing in good locations where people want to live and have good jobs to go to results in far fewer evictions.

@Craig Bowman Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

A zoning board meeting and vote is required for a variance approval and is usually rejected due to local political opposition.Also, there might be problems with files from 1915 and it took me 3 visits before they were able to locate the files and see the original plans.

The basic plan would be to use their services to do the leg work (Advertising, Booking, and managing the event) and then our property would be the location and accommodations.

Hi Everyone,So, I live in a location (Rockville, MD) mostly consisting of high-priced properties and find it difficult to consider SFHs for buy-and-hold purposes. 

Mid term rentals are okay - depends on the property and location if it’s really worth it over LTR.   

However, before I am aware of all the project details, location, complexity and type of finishes, this is just an initial conversation placeholder.

I will be the odd one here again...Plenty of experts here gave you excellent advice on how to locate the owner.I am going to do something different.