You can often talk to them before you take over the property to see if they would like to extend or vacate upon a change of ownership.

@Joey Andres I email an addendum stating that rent increases to $x and lease term is extended to x date.

We have had an extended period of above average returns for real estate.

.- Buying that first STR property in a “hot” vacation market that isn’t local therefore seems like one of the highest risk investments one can possibly make.I will not be surprised to see pain in several similar markets around the country, perhaps including certain desert locations that surged in popularity, certain lake areas, and the pain may extend to even areas like CO mountain towns, despite the fact that unlike the smokies, people do travel from all around the world and country to get there.

It makes a great way for people moving or just staying for a short term period. 

If I recall correctly this is possible, BUT you need to complete the build within the 1031 time period.

Real estate often appreciates in value over time and tends to perform well during inflationary periods.

Then I have to go for HML, with high interest rates and 12 month repayment period.

Yes, you need to leave the 10th and eat it but I would just be clear rent is still due on the 1st despite the grace period.

Like a property manager if you will not being moving to the area for a long period.