I do think brand can play a very important role in the long term of something like this.

Then, once you incorporate an entity structure, that will play a part as well.Hope that helps!

Also wonder how appreciation plays out in that area as well.

In short, having all the conversations and commitments in strategy, setting up LLC and all the fun docs of who's doing what, and I'd suggest even getting initial funding into account for at least EM. 

This platform has played such a key role in my journey over the years.

So it can be good for cash flow and building in tighter spaces but it is less of a equity play in today's market if you're looking to sell right away

This isn't analyzing deals, this is just playing a video game.

The STR part plays no part in the valuation like @Patricia Andriolo-Bull said.I agree that 20% is pretty fair, but you could self manage it once you get things in order.

It's playing with plutonium.

Columbus is going to be more of an appreciation play and cash flow margins will be tighter in the beginning.