It drives me crazy when I hear these stories preventive maintenance is what should be practiced and discussing all avenues of the deal and the borrowers docs in advance.   

From my experience: SMS has the best conversion but is the most regulated, so it depends on the rules in your market. 

STRs are an option too, but you’ll need to navigate stricter regulations in some areas.

However, the market is competitive, and rental regulations are becoming stricter.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

., stricter regulations or lower demand).

To live multiple states away and run a string of successful C-class long-distance BRRRRs anywhere in the Rust Belt is practically impossible.

While I’m happy to discuss general strategies and best practices, I won’t be sharing additional details about the property’s exact location, nearby city, or financials at this time.

I definitely understand everyone else's practical advice regarding "lifestyle investments" but also think there is something to be said about following what lights a fire for you! 

Basically if you are selling/buying a house that has been retrospectively licenced then that part for private use is ok, however if officially and practically if you wish to rent the place out on LTR or STR you are not allowed to ever use this space as part of your rental.