I think you can flip in any market but you have to adapt to the market.

If so I'll have to adapt but so far all my tenants' parents haven't gone to that extreme.

As the market matures, and we know that the STR market is relatively newish, older market participants with outdated products need to revamp and relaunch or withdraw and while we don't know who will do what in this category we do know that some will withdraw which will reduce the supply while newer market participants will find it more costly to enter the market due to the rising costs to competitively enter the market which will reduce the rate of growth of new supply until we have a break in costs through innovation which will then bring a new wave of market participants into the market forcing older participants to adapt, etc.

Just learn, adapt and move on; trying to do better as you go along.

The key has been to adapt.

He has watched how I've continued to modify my acquisition and loan strategies through the years to adapt with the market conditions at the given time.

As I have said I can't be mad at them because they are the champions of the world, I just have to adapt to their games by learning the rules.

Probably won't make any more because the majority of likely uses for the land would either remove the building or adapt it depending on future use.

You can always adapt but it's pricey and most of the time not worth it. 

If you are going to manage yourself then I would find a standard contract, adapt it as you see fit then have your attorney give it once over.