Anything currently operating as a STR is generally overpriced in my opinion.

Both from a transitional and operational point of view. 

Your Core 4 Real Estate team will play a very important role in your success.As for other markets to check out, it really comes down to what you're aiming for. 

Below you can find a quick FAQ sheet of the updates they have implemented and will be implementing soon.Quick Overview: - The cost of application fees has increased- Platforms will remove listings without legitimate permit numbers- Platforms will have to remit the Hotel taxes directly to the city of San Antonio (Operators still have to file revenue reports monthly)- STR operators can change the operator of the permit without a new application being required (it seems the permits are still non-transferable upon sale, however)- Updated Party Prevention measuresMy Take:This should weed out some hosts that have not been abiding by the permit requirements.

If you want to be a career landlord, find a landlord attorney who specializes in property management operations.

So, what, let's say $75,000 after vacancy, PM, taxes, and other operating costs.$75,000 / $1,000,000 = 7.5% ROI? 

@Grace Galang The only thing you can deduct from the property (ADU) is the expenses associated with operating the STR.

Also, the prior management had done a poor job and gave us upside in operating expenses and in rental income.How did you find this deal and how did you negotiate it?

@Doug WebbI don't know of any operator who would consider holding an asset in their personal name.  

Hey @Eddie Hincewicz, just an FYI, I did an extensive survey of a bunch of lenders and none of them would lend more on an operating STR vs a similar home.That does include if they have a permit.So anyone looking to buy, they would have to come up with the extra cash if the owner wants to charge more than the comps support.