Additionally, the price point is still cheap enough to find the 1% rule and positive cash flow and there's amazing appreciation potential! 

We pride ourselves in keeping the forums positive, helpful, and focused on real estate (please, no politics, religion, etc.).

I was the HML who put the CA clients into title for 1k per house.. then countrywide or wells would refi them in about 90 to 120 days generally they could cover their lending costs and be positive cash flow 50 to 150 a month..

This has created a cash position and freedom that's allowed me to start my journey into RE. 

Hi Anthony, it sounds like you’re in a good position to start building your STR portfolio, especially with no debt, great credit, and rent-free living!

I’m in a similar position with similar goals.

This can encourage positive word-of-mouth and build goodwill if they’re ever a reference for your property.Ultimately, focus on fairness and clear documentation.

Fatal mistake to buy that on the forward curve.My recommendation would be to get out of this position; the STR is in an extremely oversaturated market and the underlying asset is a clone of many.

Depending on how far values decline is the difference between a partial loss and total loss. in essence its the same position of those who make second loans behind the first or third position when pref goes in front of you..

Once my property is complete, I think I'll be in a great equity position.