Best, Justin  Hey Justin, If you need to use the Short Term Rental Income to qualify, DSCR lenders will need to verify the property has been booked as an STR for the past 12 months or if you have other STR properties owned and operated in the past 12 months.

That being said, if I am in a market that does not have these metrics but want to buy and operate, I may stay in my market because it will be easier to run the operations full time.It comes down to your goals, and what you want to accomplish.Good LuckGino

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

Add in HOA and utilities and misc costs you are probably at $3500 per month to operate, which is $42000 per year. 

I have over 400 units and between my partners and I we have over 2k and I created an accelerator program to help, and partner if desired but one of the comments was you really don't need a sponsor for the debt in your case but possibly on operations but it's not a requirement, but if you want to check it out I'd love to work with you on accelerating your first and future acquisitions and sharing my learnings in the MF space. 

Our bread and butter and core competency.  

You hear a lot of negative feedback on BP about Turnkey operators, and I'm sure they're not all professional and trustworthy, but I've had a great experience with Norada.

I don't really expect the property to cash flow, I realize that it's an expensive place to operate a STR and that on-island management is necessary by Hawaii law, but I'd like to be able to cover most of my mortgage and expenses after putting 30-40% down.

Ask her or him what assumptions they are operating on.

Triple Net leases allow the Landlord to pass Operating Expenses (primarily comprised of Property Taxes, Insurance, Common Area Maintenance, Snow Removal and Property Management) directly through to the Tenants of the property on a pro-rata basis.