If you ask nicely and promise not to share, you can usually get good financial information on the properties that are currently operating as a STR.If you're just starting out looking, you may not be aware of just how many cabins out there are poor quality builds due to the lack of codes.

Sponsor quality far surpasses the "deal", assuming a qualifying criteria for a "good sponsor" is that they don't buy crappy real estate deals to begin with.Having said that, if a great sponsor is offering a deal you don't like for some reason, don't invest in it--just wait for the next one. 

If not, re-check everything - listing, photos, rates, booking policies, etc.Often, newbies have rates that are too high and/or booking policies that are far too onerous.

It can be a struggle to find those who offer adequate service, price, and quality.

We had 20 high net worth investors who placed equity and debt with us with a profit splitting arrangement.

I would highly recommend you create a Market Report in PriceLabs to see how similar properties nearby are actually performing.

Yields in Kansas City are very high.

With loan extension you might have to come up with extra payment to get DSCR in range lender will approve.That is why to go through this exercise NOW and if you know tenant wants 300k TI to extend and bank wants 300k to pay down estimated balance when new loan placed you need 600k to come up with.

There will be others that say no seasoning at all but the rate will be very high ticket.

Is that typical for insurance placements in that market or is this the high end you would expect for this property?