@Giuliano Ka - development lot for $600k in the Bronx is a tough sell.

A smarter approach would involve thorough market research, realistic projections on occupancy rates, and understanding that not every location is still a goldmine for STRs.

Tough pill to swallow because the rate I currently have vs what I would be refinancing into... so not sure it's the right move for me yet. 

I also know that if I manage the project well, it will come in near the original estimate and at worst between the original and the high estimate.

List price, appraisals, projections and pro forma's are all educated guesses. 

OOS investing is not as easy as advertised, and if you pick a market thousands of miles away based solely on numbers it may be tough to build a network and get started. 

This takes perhaps a few projects to get the hang of. 

Out of state and institutionally funded can be tough to close at times. 

I see this a lot, and I think there's been so many bad projection tools on the market that the "what did this house earn" is a valid question.For investment properties there is a true number and buyers want to know how that compares to the projections. 

I’ve used Asana for managing day-to-day tasks and projects, and it’s been a huge help in keeping everything organized.