The big players dont want junk real estate that these notes  are attached to.

That's why it is important to educate yourself and find a mentor.

For example, for my out of state clients, I make sure to consult with them on their deal analysis and #s, I educate them on the good/bad neighborhoods, I help them develop a scope of work and estimate renovations, I set them up with my PM/GC/lenders/etc.

Educate the land owner on the potential profit run the numbers and go over the basic proxy and blue prints.Make sure you have a seasoned and qualified Builder/GC because they can be a deal killer with wasted time and inflated material and extended completion dates.

The fact is there are more money and guests than ever in the STR world and this is attracting bigger players who will crash existing hosts if they don't adapt to the new ecosystem. 

Because it's a company owned by, owned by, owned by.....It could be a bit over the top for most like you mentioned… Sounds like a well educated crew running it though.

Here's how I do my due diligence:1) Portfolio matching: (takes 30 seconds per deal)a) Have an educated opinion on where I think we are in the real estate cycles (financial and physical market cycles)b) Then and only then do I pick the strategies, capital stack, and specialized asset subclasses that make sense for that opinion.

But always get educated, numbers don't lie.Thanks again for everyone's input.   

Figure out what specific aspects of BRRR you want to discuss, and tell us what you have done to educate yourself on each of those specific aspects.

YUP minimum requirements.. although you would be surprised how many folks cannot get a bond because they lack credit score.. this will weed out the really poor players and give state a vehicle to regualted those that violate the laws without all the grey area currently.