We are planning on purchasing an STR (probably condo) in the Treasure Island area of St Pete.  

I wanted to reach out to y’all and see if this is a common experience or if we are doing something wrong with our process.

I think the right investor would do 2 units long term one unit short term. this strategy allows you the greatest flexibility. we are also developing an extended stay hotel that's 58 rooms. the size of the average room in that is 216 square feet and rents for a target $80 per night. our development cost per room is 100k per room with hard construction. the smaller you go the more money you make. if I was to suggest anything it would be to focus on the smaller part of the market and on multiple unit dwellings and finding and identifying markets that meet similar numbers. that will probably be midwest markets.

Thanks Jaron, we are very split on this decision but I am leaning towards your approach. 

When you start asking the question, where are we going to get more housing for all of the 20,000 people moving to our valley every year, you look around and say: "I guess I will".Our first project has been over 3 years in process with a handful of friends and my Dad as the primary investor, we are ready to break ground on 17 units of townhomes and multifamily units for sale in West Boise.

We are thus asking that you fix the problems.

For rentals, we are looking for a good balance of mild cashflow and appreciation in B and C class neighborhoods. 

We are looking at a historic multi family in San Diego the sellers have not filed the Mills Act paperwork What are the ramifications of filing for Mills Act on a rental property?

We currently still have the AK condo rented out and have bought a house in Phoenix that we are currently are fixing up. 

I have a property that doesn't align with the rest of our portfolio's strategy and we are ready to sell it.