After getting the operators and the deal it is pretty passive.

It would be ideal to chat with investors operating in the Midwest, but I welcome anyone's perspective on BRRRing from a considerable distance (plane flight away).Thanks!

Common tasks include guiding (for example, blind, severe physical disability), alerting (severe diabetes, seizures), retrieving/operating (pushing buttons, switches, etc).

You need to know what to look for, what to address, and have solid buisiness acumen to run a MF operation of that magnitude.

Ask specifically what is needed to comply. 

From my understanding, as long as you intend on doing a STR when you close, there are no rules against changing your strategy after closing, especially if you find that something else is more profitable.So in our case, the lender determined an STR would bring in ~$3500/month (with all of their conservative factors), but now that we operate it as a huge 3300 sqft Co-Living property, it actually brings in $7000/month.

If operating costs increase, then customers/tenants will eat the costs in tight markets.

It sounds like a few people on this thread don't really understand how PMC's operate or why they may charge extra fees.

We work with experienced operators that have great reputations and are doing multiple deals at a time. 

Every PM operates differently, and at the end of the day, there is tons of information you can navigate on your own in the beginning stages online, but surely there will be PM's that would be more than happy to assist you on journey.