Hi - we're getting  ready to "push the button" with Kay Properties on a 1031 finance purchase of a $100,000 offering.

Hey guys so my architect was in the process of drawing me up plans for my 2nd unit for house and he already experienced some push-back from the city for one of his other clients.

This resulted in needing to bring in a rescue fund to take over the property and change the name, pushing our original investors down to B-2 status.

I'm looking for advice on whether I should purchase my father-in-law's 6 unit apartment in Burien, WA (10 minutes south of Seattle) as my first deal, or perhaps help find him a seller that would pay more than I could and is a couple years ahead of me in REI. 

None of these things will bring success tomorrow, but with doing them consistently every day, I will wake up in 5,10,20,30,40,60 years and be miles ahead of everyone else.2) Never stop learningThere is only growth or decay, there is no middle ground.

If well, go ahead and try it.Otherwise, why deal with MORE headaches?

STR is a bit weird because the Covid travel demand pushed the price hardcore for the last few years. 

Everyone’s got the same problem: STR oversaturationPrices are high in most markets and if/when you do buy, your competition is fierce thus pushing down nightly rates and occupancy rates in almost every worthwhile marketGood luck fixing that! 

Hey Deirdre,To address your questions:Providing freedom by handling day-to-day operations.Offering peace of mind through proactive maintenance and tenant communication.Reducing risks by staying ahead of legal requirements, tenant screening, and dispute resolution.Enhancing the bottom line by identifying cost-saving opportunities while ensuring tenant satisfaction to reduce turnover.Is the experience still important when the property thrives financially?

If you conclude the leverage is so good that everyone comes out ahead that's fine but if you are only able to originate hard money debt that may be viewed as a red flag by investors who will question your experience and borrowing strength.