Purchase price: $630,000 Cash invested: $120,000 Gutted this property, brand new electrical, furnace, propane, finished basement to create separate unit.New garage with rental unit.

I have been branded as just no-fact Cryer to undermine my valid experience based on technically of junior partner, old company etc.

I would definitely hold it until conditions settle down a little bit, with that loan and interest and being brand new home your cash will be good.

They are paying for some repairs now after I've had several issues and a brand new tenant moved out, but I'm still paying a mortgage without any rent coming in during those months. 

So rather than just market suddenly for 60 days when a property opens up, you're developing your personal brand all the time.

While I love the brand and have personally used them for the past 7.5 years, the dryer takes FOREVER when doing loads of bedding or towels.

I built one 2 years agot just under 3k sq ft but on a busy corner so it only brought 1.5  but that was the cheapest new build in Lake Oswego at the time that was not attached IE detached SFR.And in Vegas 3 mil while not brand new will buy you a pretty spectacular home..

For a more general philosophy on hospitality, especially if you are going into the higher end STR space I would recommend Four Seasons: The Story of a Business Philosophy by Isadore Sharp about the founding and development of the Four Seasons brand. 

@Robert DanielsI am brand new to this as well but I do have a background in business and taxation and know the basics on the financial side.

The dated cabins typically need more help than say brand new construction which now are coming with pools and other amenities built in.