@Joe Gellenbeck Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

Both these 2 are not easy to do, and typically take expertise, experience and or capital.  

This is an area that home inspectors typically do not cover in their reports.

.- Lower Elevation = Higher Risk: Properties at lower elevations or in flood-prone areas typically face higher premiums.- Natural vs.

Here's a typical call:Buyer (You): Hi my name is (your name). 

I'm just trying to understand typical STR appetites, understanding the overall ROI may be different in this particular market. 

- Of course, most of these PMCs weren't even properly licensed and were typically one-person companies.If you have an LLC, the PMC will only need the LLCs EIN.- If you chose to set up your LLC as a pass-thru entity, then you will need to supply your SSN.FYI - to avoid getting nasty letters from the IRS about errors (which might cause us to be audited), we will ask for a copy of your EIN assignment letter or a copy of your SSN card to confirm those numbers.

That being said, your typical cost of capital is as follows:EquityAgency debtBalance Sheet local lenderDebt FundPrivate DebtPref EquityHard Money DebtBookie/Loan SharkOther things that will impact capital sources: are you wanting to finance the improvements, or will you pay for those from equity/cash flow?  

Typically you cannot 1031 out of a syndication as the partnership (ownership enttiy) must be the one to do it, not an individual investor.2.

.#10 CONTRACT - make sure what you are doing STR is listed in the contract - typically in the addendum section.