Quote from @Jonathan Bombaci: @Scott Trench Challenge accepted!

@Celine Besson there will be several challenges:1) Finding a Grate Property Management Company. - See our copy & paste advice at the bottom of this response.2) Managing the Renovation- Everyone thinks a PMC can easily do this. 

They’ll be essential in helping you navigate challenges and scale efficiently.Since you’re planning for 2025, now’s a great time to start networking, analyzing deals, and learning about financing options (especially if you're a first time flipper..). 

I navigate through cities and towns, identifying areas that are both friendly and challenging for STRs.

I am finding the market challenging especially as it relates to cash flow.  

Challenges?

Finding a property with the appropriate layout is challenging and expensive.

One of the biggest challenges of investing in Rustbelt cities is knowing where to invest and properly understanding the cooresponding pros & cons.Here's copy & paste advice we share to help to address this challenge:-------------------------------------------------------------------------------------------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?

Giving up 50% equity on a value add in today's environment is just too much to give up without a significantly better return that's not offered through almost any other asset class

You definitely should network with them.Relationships are very important in this environment.