I’d recommend steering away from condos due to high HOA fees, which can eat into returns.

I 2nd @Jonathan Greene's question: why Illinois? 

Do you eat your crow with ketchup or with Sriracha?

Hey @Trey Holloway, there are products out there that fit the 10% down model, but you will have to hunt for one.I don't agree with @Jaycee Greene that banks don't finance STRs.

Quote from @Jonathan Greene: Did you miss this in the same forum 10 days ago with 95 replies?

If you listen to David Greene, he's hearing more and more stories about syndications struggling to keep up with their promises and a lot of investors are losing money, or pouring more money into the syndication to try and save their original money.

@Jonathan Greene thanks for the plug! 

I worry about a renter with a good rental history being to cheap to put anything in but his grandmas avocado green range, cause it still "works".Not providing appliances in my area would also be a bad plan causing extended vacancies.

@Jaycee Greene Thanks for the connect!

If she pays, then your really out of luck and you have to sue her in court for breaking the lease and damages.In general, I don't take people to court once I have the property back as the attorney fees and the fact you RARELY collect on any judgements (15% of the time or less) eats any profit and wastes your time.