I feel like it's a space where great operators can really clean up, since the bar is set really low, in my experience at least.

I’d love to hear more about how you approach finding these under-$2M properties and what strategies you’re implementing for operations optimization.

I ultimately invested $65 cash, $5k in legal fees, and $9.7k in operational expenses while owning the home, and walked away with $17.3k after a judgement.What made you interested in investing in this type of deal?

Even really skilled operators are left with no back up plan because they can't pivot to LTR in that market, can´t fetch the price they paid because the STR has lost some steam and was bought using nightly rate numbers etc.

Yesir still operating in the MKE market. 

@Andy S. what capacity are you operating in?

We have talked about things such as rent by the room and acknowledge that the operating model will likely be very different while living in the property vs. when we move out.I think the point you made about assumable loans is very helpful to get into a property you might not otherwise be able to afford.

You'll have to operate at peak efficiency to make good money, which means more time, stress, and headache. 

@Patrick Pan, if I was operating in a state where that was a concern I would just contact their current landlord for a reference.

Hopefully those that stayed on the sideline until the 'time is right' will start underwriting specific deals and recognizing path of progress opportunities that offer multiple operational and exit strategies.