Cities like these offer untapped potential without the intense competition found in larger metros.3.

This is not personal, but if a person cannot save money now real estate is the worst investment to get into as it is one of the most cost intensive businesses to be in.  

This tends to be more time intensive and more for someone that has a lot of time and limited income as you may find a "home run" type deal with some effort/energy.

AS Mike stated its a very cash intensive business.So to me scaling a business in RE does not necessarily mean you own ANY real estate.

I don't know anything about that space, but it sounds like a helluva grind and time-intensive venture.

I assumed some would need replaced, which would be okay, but I would hate to see it all trashed.I guess in that vein though, I hear that a lot about LTRs -- the horror stories -- and we have been blessed with amazing tenants (generally) so I was thinking it would be along the same line where it would be something where you would want to charge high-end and screen intensely to try to get a tenant that just is transitioning and can benefit from the furnishings.I know that could still happen though, even with all the precautions you can take, so it's something good to consider! 

I can say there are specific custodians we like to work with who are streamlined and smooth process and some who make the process a lot more labor intensive, and have had two investors using the same custodian and have one tell us we need to complete this form and the same custodian tell their other client that its a different form.

What about the second and third year when you no longer have the labor-intensive initial setup?

Although I find competition for what I call investment grade parks is quite keen.. so returns are more in the MF space.. when you venture out east from the west coast or look at low end parks returns are higher but management is quite intense.. as our dealing with some pretty scruffy tenant base.

They're generally more stable and less management-intensive while you learn the ropes.