Hi all,I'm looking to get into short term rentals.  I have been following Michael Elefante on instagram and have been talking to him and his team as well.  He is obviously doing very well as a STR host but his mentors...

It's pretty good but I do have a few questions around the metrics:1.

How will they value the land so I can look at LTV and other metrics when modeling my financials?

HI Abigail,Acquiring a loan, lenders always look into 3 metrics Income/Assets/Credit.

What checks and balances would you need to put in place to avoid this.I am a firm believer that you should tie any bonus to a metric that the company is trying to achieve.

One metric they provide is new construction sales, which I can use to calculate % of total sales and see whether that value is trending up or down.My question is, in general is a market more or less desirable if there are a lot of new builds hitting the area? 

I don’t focus on the total interest paid over time metric.

I'm searching for references for a land note collateral review.

Where FHA tends to shine is with credit below 680-700 and/or higher DTI's (over 43%).Also, whether you use an entity (such as an LLC) is largely irrelevant on your return, whether cash on cash or any other metric.

I noticed the Better Business Bureau complaints and feedback are NOT good...and the Google reviews.