My biggest concern starting out is Uncle Sam..... 

As one of the biggest home buyers nation wide, word has it that New Western has 4 dispo reps for every 1 acq rep.  

I think my biggest misunderstanding is comparing developing Self Storage/Subdivision lots/Flex buildings versus MFH development or acquisition.  

The downside of the HELOC is the interest rate is usually higher so you will want to pay it off faster. 

The downside is that you're going to pay a higher interest rate, but the upside is that the lender is only concerned with the property's financials rather than yours.

The biggest bill that was just passed is the HB 24-1098 the No Fault Eviction Bill.

Biggest mistake of my life, was not keeping 50 or so more of the 500 I flipped in Cleveland, cost me millions.  

It's all under the same banner and controlled by one company.They have the ability to negotiate with the City of Cle Elum, WA, as they are probably its biggest employer.

. - Downtown location, near restaurants and a 3 min walk to train station- Only 2 off street parking spots, street is permit parking only but there is free parking down the street- Units have just been completely renovated- The city does not have any ordinances against short term rentalsThe biggest hurdles for me are: we're about to go into a slump/down season; potential parking issues; and if one of the other units were rented long term - dealing with the hassles related to that.

Time would be the biggest variable.Assuming the same repeatable services will have to be provided for STR & MTR, that are not provided for LTR, the costs may not be that different.Taking care of lawns, monitoring & paying utilities, taking calls, etc.Some services will be the same, but vary in frequency: cleanings, resupplying amenities, responding to inquiries, bookings, granting access, etc.