I started looking in surrounding areas and found that the markets less established or still rebuilding had much higher cap rates.

I'm a very analytical person who won't start a new venture without first gaining a solid understanding, establishing the right framework and connections, and ensuring that I'm securing a great deal.

In our experience that is what carries the day along with the area and the STR restrictions or lack thereof(a whole other conversation) that deems the valuations.Airbnb and VRBO have thought of this and are way ahead of it, we scaled quickly using these platforms for two high end STR that book out great, once we established that, we created a direct book website and are slowly pulling our repeats from that.

A terms sheet will tell a pro whether you know what you're talking about and give them a structure of the deal you propose, but it won't establish credibility with respect to your financial ability to pull off the deal.

For that time frame it would not make sense to turn it into a STR as there won't be enough time to establish a history to attract good vacationers.

In more established markets like Austin or Omaha.. from what I’ve heard in Bloomberg, guests value transparency as much as good rates.

Eliminate debt, establish a budget, and save.

In your opinion, what is the most effective way to establish an LLC? 

This is a very very difficult business because you have to buy company with higher valuation without knowing their product (doing DD/financial audit to young company or bankrupt company is extremely difficult) and then establish supply-chain-model (establish partnership with amazon/ups/fedex) and such.

After establishing or continuing it as a rental, I'd like to move there myself for at least half the year.Question: What are people's general opinion on PR in 2024?