Love living here as well, big city but has a lot of small town touches, Theme Parkes, historic attractions, military bases, great food, and friendly residents.

We are fortunate to have so many events and attractions which do balance out Disney and the other theme parks. 

Creating a consistent theme for the entire house… farmhouseNew drywall and paint interior and exteriorFixing the bamboo hardwood floorsChanging out the light fixtures interior and exteriorPainting and restoring the bathroom vanities Tile paint for the bathroom floors and showersLandscapingChanging out the toilets to eco friendly ones Adding a nest thermostatSealing and patching parts of the roof Drywalling and painting the garage Adding new appliances Staging What was the outcome?

However, a common theme I hear when I ask them how they got into this business - they didn't know enough to be really risk averse. 

One theme that I noticed while reading this thread is that the words "never", "restricted", "limited",and "forever" come up often in arguments for leveraged real estate.   

And buy better quality real estate not just ITM trash assets.Do you notice the common theme-- it's buying real estate, how you get the capital is indifferent.

NO MONEY DOWN.There should be a bounty on these supposed "gurus".At least 4 books have been published and are being heavily promoted in the last year with the theme of purchasing an existing highly profitable business with no equity investment.  

If you want to enter that STR market you will need a lot of amenities and theme to keep up so furnishing costs could run 100k with modifications to support getting closer to the top in a tough market if it's not one that someone else was running.In terms of the cash, it gives you leverage on the buy, but I don't think you will like what you see on rates with a DSCR for STR if you only have 3-6 months of activity.

So I negotiated by finding out what dollar amount he needed from the me to sell?

One of my clients just converted his garage into a mini put put with a Star Wars theme..truly one of a kind.