What are the best steps to take when getting started? 

For anyone that is looking at developing or purchasing an STR in Packwood, WA I would take a peek at the numbers that are on the rental sites and the amount of bookings. 

Faster TurnaroundsSmaller projects often take a backseat for licensed contractors, causing delays.

And start the tedious process of building those relationships.Or you could skip all that and find a mentor that also has the community of likeminded people.It will take you less time but is likely going to require an up front investment.Btw have you done a deal yet or would this be your first?

network network. be different. see what out there. dont be afraid to take risk and be patient

It takes an hour to get there down the lake.

Thank you for taking the time to provide the details and the pro forma #'s. 

These are good indicators of quality tenants.You can also adjust how much deposit you take as well.

Does the bank take into consideration the income from the other units?

My cabins (1 to 5 bedrooms, all with views, and all except the 1 bedroom is further from town) are still performing well and most are on track to meet or exceed 2023 returns.The days of buying and everything running easy with people filling your dates and throwing cash at you are over.