You will get killed on the C and D properties which are usually the majority of most properties handled by a metro PM company. 

thanks for the guidance @Kaushik Sarkar Since it's development it will take longer to get to the exit. 3 years could be right depending on the market, if the project requires entitlements, how long it takes for permits, no major utility obstacles, etc.

Quote from @Matthew Paul: Isnt there going to be a major problem with mudslides once they get rain  .

thanks for your time and help 1st off, full disclosure here, Rent To Retirement advertises their properties on my Investment Properties For Sale Show, so I am not a totally unbiased opinion and it's only fair that I tell you this up frontHaving said that, outside of running my show for people like them, I also own a property management company in Northeast Ohio and have worked with 1,000's of out of state investors over the years.I say all of that to say this, the overwhelming majority of negative reviews I have seen on them are very similar to a lot of negative experiences investors have with my property management company and others like it that I've worked with.

That is my major question.

My guess is that their mentors are similar, no barrier to entry, and no major organization or entity that holds them accountable for ethics. 

In all major cities, especially ones with a higher crime index, unless you study the market and know it, I would never rely on someone else to choose a block.

With an 8% mortgage rate, they would pay more than $650k in interest.One major problem for both buyers and owners beyond mortgage rates is the rising cost of property tax and insurance.

Platforms like Avail can help if you prefer to self-manage but still require time for repairs.Tax-wise, repair costs may be deductible immediately, while major improvements must be depreciated over 27.5 years.

A major part of the success or failure of an STR investment is the design, furnishing and management plan.