The biggest win or loss you are going to have on your STR business will come at the purchase. 

Just food for thought if you cannot find one in that direct vicinity. 

Food for thought.

Second, you don't want to operate at a net loss, it's money out of your pocket every month and essentially negates your equity gains over time.

This deduction is related to the loss on disposal of certain assets in your building such as replacing or removing existing components of the building.Cost segregation studies can be a very beneficial tool for real estate investors.

Central Ave has a number of unique, local restaurants and drink spots (laundromat speakeasy with bottomless mimosas and Cuban food on Sundays).Good luck!

When i read about how their deal was really messed up with most investor probably going to take huge loss's its not shocking.. you have to stay right on top of these and have the manpower to do it.

@Jennifer Fernéz I run sum numbers for you with our tool, see comments and pics below before refinancing and post refinancing .Financial Breakdown: Purchase Price: $200,000 Mortgage (LTV 80%): $160,000 Interest Rate: 6% (30-Year Amortization) Mortgage Monthly Payment: $959Upfront Costs: Down Payment (20%): $40,000 Closing Costs (3.5%): $7,000 Renovation Costs: $15,000 1 Month of Carrying Costs During Renovation: $1,548Total Upfront Required: $63,548Year One Rent: Monthly Rent Income: $2,000 1 Month Rent Losses during renovations (-$2,000): -$167/month distributed over 12 months Total Rent Income: $22,000 per year => $ 1,833 per monthMonthly Expenses: Mortgage Payment: $959 Property Tax (Assuming $3,000/year): $250 per month Property Insurance (Assumption): $100 per month Utilities (Hydro, Gas, Water): $275 per month Assuming 5% Vacancy: $92 Assuming 0 % Repairs & Maintenance first year because unit has been recently renovated Total Monthly Expenses: $1,676Monthly Net Cash Flow: $157Post-Renovation Refinancing Strategy after 12 months:So far, we’ve purchased the property, completed renovations, and rented it out.Next, you can approach the bank for a refinance to consolidate a portion of your initial investment into a mortgage.

I am still at a loss why more investors aren't founding REITs or DSTs. 

My goal while I'm working is to always report a break even or loss until I retire.