20 townhomes sounds like it would be sales, but I don't like to assume. 

you have to inspect BEFORE the sale. 

The increasing barrier to entry results in fewer new STR's coming available for sale, but also fewer options for guests to rent. 

I forgot to mention another sales tactic is to tell people at the three day class you can charge your investors the 40k tuition.

Look for sponsors that have been in the real estate industry thru several economic and market cycles.

And since you are licensed, you can potentially do some sales on the side to increase income and save up for investing.

This will be the largest bond sale in US history coming up which on top of the debt we are also running as well - if we have so much debt to sell I do not see rates going down, I think they may rise (or stay around where they are at). 

@JR Gonzalez, You can allocate the proceeds from your sale anyway you want. 

If the property sold today, after 1% cost of sale there's only $2.5 million in cash coming from that sale and that's assuming that there's no exit fee on the loan and no outstanding payables. 

My day job is being a financial professional, so I have good experience with underwriting and sales that I believe can be translated to real estate.