We are a massive appreciation market. 

You are likely overpaying by $5,000.Broker fee of $3,000 and Processing Fees of $2,000 seem out of place...but then again, i never used a broker to get a loan so I am not sure about that.If the broker was able to get you an interest rate or loan product that you wouldn't be able to find on the open market...its high, but likely fair.if you are getting a loan product that you could have gotten by going to a normal bank...seems high and unnecessary. 

Since I'm based in Tampa, I don't look outside and compare markets. 

@Audrey Sommer I prefer investing in my local market (Snohomish County).

New Orleans is my market too.

The STR market here has become way more saturated and competitive especially in San Juan. 

Here’s why this market is so ripe:1️⃣ Mom-and-Pop Sell-Offs at Huge DiscountsA lot of these properties have been in the same family for decades, but now the kids aren’t interested in taking over the business or the real estate.

Much like other markets in the Midwest, investors go to our market because of the low barrier to entry.

Then the turnkey operator sells the property at the market value to the investor who pays market price of around $200,000.

There are really great REI opportunities in different markets - markets in the Midwest and Southeast of the country are particularly lucrative - where not only are the purchase prices reasonable for most RE investors, but the homes are turnkey (new builds or completely rehabbed homes, tenant ready, systems 10 years of life remaining on them, property management teams in place) with appreciating home value AND appreciating rent.