Quote from @Tom Enright: Hi Forum, I'm about to close on my first STR and plan on materially participating >100 hours this year as I'll be working on the property and plan to rent it the last 1-2 months of the year.

I would say that I had the same thoughts about the industry before I started to look at it a little more closely.

Building a separate one isnt cheap , I have run the numbers , with permits , nd the other county BS its close to $200K for an 800 sq ft building . 

Close to the University of Virginia and a large research hospital.

I closed on my first deal last week and am very excited to see how it all unfolds. 

Get the comps and the rehab as close as possible. 

But if my "assumptions" make sense, then they should get fairly close, on average. 

Hey everyone, a new development in the area where I invest, is offering a 5.99% interest rate (conventional loan) and 2% of purchase price in closing costs.

...and the account is closed.

Congrats on submitting that offer and perusing Senior living, either for you or your client.I have been involved in the purchasing process for several senior living facilities, and work closely with a few people who operate RCFE, sober living, and similar types of properties.From what I have learned, the most important thing to keep in mind when purchasing RCFE properties, is that you are also purchasing a business.