Probably a very amateur question… I am looking to purchase my second rental property very soon.

@Steve Vaughan total amateur on my part by not putting down the original rate.

Some thoughts:Why would you choose an unlicensed, uninsured, amateur with the manager getting the upside to manage your STR when you can hire a licensed, insured professional to manage the STR and get the upside.My market was heavily impacted from Covid? 

So forgive me if my questions below seem insanely amateur. 

From what little you've presented, it sounds like an "amateur" business setup, if you'd call it that.

Also foundation slab seems to be uneven, looks like someone amateur poured in the concrete and dint finish it well, there is a slop in the foundation slab itself.

We are in an environment of unprecedented cap rate compression and record low interest rates which is only headed in one direction after this is all over.Yes, make no mistake, the music will soon stop.That has very little to do with an upcoming election and is regardless of who wins the White House or who controls congress after November.If you've listened to Kevin Bupp and Rod Khleif, you know what happened to their portfolios in 2008.These were no amateurs, as a matter of fact, they had many years of investment experience when the music stopped.They both weathered the storm and came back stronger and that is why I remain a shameless fan of both men till today.Several others were not that lucky, and you will never hear their names.In this space today, there are investors and there are educators.The educators have taken over the habitat.That is why there are now more podcasts on real estate than I can get through in a working week.Real Estate education is so very lucrative now that it is possible to make way more money from podcasts and books than in actual real estate investment for some gifted marketers with smooth tongues and gifted content creators.more....To read full article,click link below:https://www.biggerpockets.com/...

This is not an amateur market.

If the state provides that buyers are entitled to an 'inspection period' then the state is not going to allow you to say that for an 'option period' or vice versa.I been involved with a few real estate deals where amateurs wrote real estate purchase agreements and options to purchase and every time I did not use a professional broker and let someone write the contract I ended up going to court.

I then realized in a few months that 1-40 unit deals had horrible pricing because all the amateurs were involved and the ones that looked good from a per unit price prospective were under 80% occupied and had ISSUES.