Repairs have to be passive but what about placing a tenant every year or 2?

You two could probably extend the closing until the repairs are complete which would be great for you since you would not have to go back on the market.

Hey @Julie Brangenberg - I have an AirBnB here in Chicago but never in specific college towns...I would tend to say that it's probably not the best location unless you have boots on the ground there.I could also see more damage being done in college towns, higher repairs maintenance, and shorter stays but that is honestly just a hypothesisIs there a specific reason you want to get into the STR space?

also have you simply tried to contact the builder and make a request for repairs ??

Good chance a major problem - tenant non payment or damage, needed major repair, etc. puts you cash flow negative for that year.  

Do you have a handyman that can handle repairs?

As a lender your credit is shot now, a BK would make it that much worse compared to trying to repair it, but sometimes a BK can repair it faster. 

Quote from @Ryan Davies: Most work this way: Rates: 9% to 13% (Most Deals are 11-12%)Terms: up to 36 Months (Most Deals are 6-12 months)Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))Minimum Loan Amount: $50,000 (For loans less than $250,000 we charge $2,500 minimum)Max Loan: 65%-70% of After Repair Value(ARV) 100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 WeeksWe have private lending partners throughout the entire United States that cover the following states: AL, AZ, AR, CA, CO, CT, DE, FL, GA, HI, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, OH, OK, OR, PA, RI, TN, TX, UT, VA, WA, WV, WI, WY.

In addition, hiring qualified personnel for maintenance/office is a challenge and maintenance/repair costs are also higher when compared to Texas.

Made the repairs needed to get it rent ready, and then found tenants and acted as point of contact for them What was the outcome?