I am delighted to have stumbled over the BP website. 

Stay persistent and keep moving forward.And here’s something I’ve learned the hard way: When you're looking at deals, be thorough and cautious with your numbers and always plan for unexpected costs—it'll keep you on the safe side.

You need to maintain a reserve to handle unexpected costs in the first year.How much should you maintain in the reserve? 

However, higher-than-expected costs, contractor expenses, pest control, inflation, or unexpected work can make it untenable to maintain the rental property.What can you do if maintenance is becoming a financial burden?

A lead can come in at the most unexpected times, and how quickly you respond can make or break a deal.

It turned out to be the right move because he encountered a few unexpected repair issues that would have made monthly payments stressful.

If market conditions change or unexpected expenses come, you might find yourself over-leveraged.Cash Flow Considerations With both a hardmoney loan and a HELOC, your monthly obligations will increase.

From unexpected fees and rigid terms to missed opportunities due to slow funding processes—these factors could be impacting your bottom line more than you realize.Have you ever re-evaluated your financing strategy?

It’s also important to think through what happens if one partner wants out or if unexpected issues arise.

My friend ran into some unexpected zoning issues when he started adding RV spots, which set him back a few months.Since this is your first STR venture, it might be helpful to connect with others who've walked this path.