He has tons of knowledge about that area and manages a lot of STRs there.

Quality, experience, knowledge, track record of sponsor2.

They usually leave the D to F areas for the out of town investors thinking they are buying the cherries but are getting scraps from lack of local market knowledge.  

well that depends on you and your knowledge and your skill/luck etc and no one else. with stocks and with RE, sometimes you get the turn-around projects too, which can suck up your money and be losers or end up as huge winners, when the community recognizes the value add or the company turns it around.

Quote from @Kevin Rodriguez: Quote from @John Underwood: Stop paying for STR knowledge.

@Paul AzadI have no idea how their funds are doing but in speaking with people in the space several GP’s are trying to push a fund right now to survive the next 3-5 years and raise capital before they lose most of the LP’s funds as once that happens raising $ will be near impossible I am not saying this is the case in this instance and cannot comment on the above, just sharing some common industry knowledge on what some are doing

Coming to networking events - can you please recommend couple networking events that are best per your knowledge?

•Use this funding wisely for investments like property down payments or marketing.5.Network & Learn:•Use Year 1 to build a strong team (agents, wholesalers, portfolio lenders, contractors, etc.) and deepen your knowledge of the market.

Welcome,BP is undoubtedly an excellent platform for both networking and enhancing your knowledge. 

But, it's a unique strategy that requires more knowledge than expected.