@Timothy Frazier  This will be tough as the HML will want a 1st position loan, but so will the other lender providing the rest of the funds. 

Real feedback will also help me create valuable content and resources.For example, many investors struggle with knowing which amenities to splurge on for max ROI.

Hopefully you have a better streamlined build on the next one.Its a part of the processWe'll be more efficient as time goes onThanks for the feedback!

What does a cash positive investment mean to you? 

The 1031 positions the investor into a property that the REIT absorbs as @Joe Sera said in the 721 conversion. 

Any thoughts and feedback would be most helpful.Laurieann Edit signature

Like Devin said, double digit rates and you could still have fees similar to a first position mortgage.

Once my property is complete, I think I'll be in a great equity position.

Hi all,I am new to the BP community and would like feedback / pointers on how to learn more about potentially getting an out of state winter home / STR investment property in Jacksonville Beach, Florida. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.