Hi community, I'm in the process of acquiring my first STR property in Joshua Tree and have met with a co-host that I really liked.

In the process of refinancing to a permanent loan.

Slowly build out a repeatable process...if you continue to change things (as in different types of properties, different levels of renovation, different finish material, different neighborhoods, etc.) you create more variables and make it harder to solve to the problem.I am a math guy and less unknowns/variables you have the easier the problem will be to solve. 

The process is new to me, but it doesn't seem all that complicated (link below). 

Any people who have worked through the grant process in MI before who can weigh in here on other considerations? 

To process a new owner payment the system takes an extra week or two.

It will speed up the process of finding no-competition deals faster.  

Strong property management and careful tenant placement also play a critical role in success here, so I recommend partnering with a turnkey company or an agent who specializes in these areas to make the process smoother.As for rental demand, homes that sit for extended periods are often the result of issues like pricing, condition, or tenant quality—not necessarily a reflection of the market as a whole.

Cheering for your success!

Recently, we created the first (as far as we are aware) residential assisted living focused fund and have successfully raised for multiple homes, giving our investors and us exposure to the cash flow, and equity upside that comes from owning the real estate and the business.