most land has more than 6 months supply which means it's a sellers market. that's the same in our main market in Columbus Ohio and miami florida as well where I relocated to. 

If you are taking on debt for the STR this gets a little more complicated, but not much. 

As a licensed Real Estate Broker in Maine, I managed the acquisition and renovation of 1272 Lakins Rd, Etna, leveraging my expertise and industry knowledge.

It's in on a Main St in an small town in NJ.

Also, how much time do you want to spend doing real estate vs. your main job or extra work in order to fund it.

Refinance into a debt service loan.

That does not require employment or job seasoning instead it uses the rents to qualify and you can take out up to 80% LTV cash.Use the cash to put down on the next 1-2 or more properties as long as the other properties are debt servicing themselves it opens up more opportuities to buy more future assets and increase your passice income.  

House gets foreclosed on when a borrower is not paying its debt obligations - typically its mortgage.buying foreclosures is not for the faint of heart as you have no idea of the interior of these properties lastly while it can be beneficial also realize if there are a lot in an area those homes are the new comps when trying to sell so it lowers home values in an area 

The sentiment feels a lot like 2008, home prices are unaffordable, Price to earning ratio don't make sense, rents are high (which is a goo thing only of the homes weren't so expensive), I feel like it's a ticking time bomb with the debt crisis.

Never invest in Longterm assets with short term debt.