What are the key risks or potential pitfalls in this strategy?

Thank you.Good morning, Joel - What you are describing is a very common practice on the private lending side of the financing industry.

But I'm not an attorney, so maybe I'm totally wrong on this hunch.My 2nd comment is directly within my practice area though.

The income potential for STR How did you find this deal and how did you negotiate it?

OPI would assess your fire potential first.  

I have a call scheduled with someone on his team for Monday & hopefully that gives a little better direction / insight into best practices for new members.  

Why PM does not inquire to bring potential tenant to view occupied property upon tenant agree?

Usually that means that they have hard assets that can be liened and potentially sold to pay off the debt.

Any smallerunits just make them equivalents of a 10 x15. 3 5 x 10's= 1unitAlthoughI am counting them all as the same, the reason, I say count by sizeis for when you build.Nowlets calculate "Demand":Numberof units needed (Step 1) minus Number of units existing (Step 2) =Quantity to build.Town1:500- 400 = 100Town2:300- 100 = 200Town3:andso on.Thiswill help you pick which town you have the greatest potential forsuccess.

More people moving to a city is more potential tenants.