Extreme oversupply of STRs in a bunch of markets, due to irrational exuberance and massive overbuilding in 2020, 2021, and 2022.2. 

Hey , thanks for your insight, i also know all those things so i guess my real issue is im afraid the unit wont appeal to people and i either cant get it rented , or the type of people that would accept that type of product would be the type that make me regret this decision.. shrug maybe irrational fear from hearing stories or podcasts. its possible . but thanks again. adding the gate , carport all of those ideas were just for the renter not myself.

You basically double your money every year and in the 10th Year, you would receive $1,024,000Obviously, if you calculated that $1k turning into $11k is a 100% per year return, THAT IS THE WRONG ANSWER.You need the IRR to calculate it for you correctly at 27.1%This is why EVERY REAL ESTATE INVESTOR NEEDS TO KNOW ABOUT CASH FLOW... and I will throw in the IRR at this point.Hopefully the readers of this post will understand that by understanding more sophisticated calculations, you can answer these seemingly easy problems.When I get someone, which is very often, that tells me WOW.. that's a 100% per year return!!!!

I have Levered IRR at 28.6%, CoC at 25.8%, and DCF value of $355k.

well you can thank the internet  sites like BP  late night television evangilist RE guru's webinars podcasts etc etc.. facebook.. linkdin  etc etc. and the burning desire from many to get rich as absolutely quick as possible and some irrational idea that real estate is the way.. take the bar to entry is non existent and you have a lot of beginners.the reason you have all this wholesaler activity is because the market has strengthened and they can't buy a home like they could pre 08 only way to jump in with no money is try to pimp deals.

But the 320 unit and 296 unit apts I recently invested in are expected to perform much better in yield and IRR at this time in the RE cycle.  

But is does provide at least some basis for what seems to be "irrational" market behavior.

I can't find the thread as i don't know how but I was happy to spend 5 minutes explain what I got from the thread and what I know about that particular asset class.For long term TK you need to be 60 to 150k minimum and rents at 750 and above to make them viable.Its the power of BP pod casts were they ( the owners ) don't really vette these folks in any way.. just because they make a pod cast has no bearing on how accurate the info is or viable the investment is.Many that do pod cast are great for sure.. but there is an irrational exuberance  thinking a BP pod cast puts you in an Elite level.

Doing so will isolate your buyer pool to investors only and they won't pay irrational prices like an owner occupant will.

A LLC is primarily your irrational fear factor policy.