With 5% down payments and all the expenses deducted, there seem to have close negative/only around $100 cash flow each month.

It is still quite restrictive IMO and would not allow for many STRs but some to be added to the local market. 4.

Somewhat unrelated, but I do not allow BiggerPockets to do business with partners who require their clients to sign agreements or otherwise agree to terms that prevent them from leaving what they feel to be honest reviews on BiggerPockets.

However, there is no way to do so without risk.The Internal Revenue Services issues three (3) Private Letter Rulings (PLRs) that allowed the taxpayers to do just this.

Obviously if I intend to have a top performing STR in this market, my buy box will allow for a much higher max purchase price, but I wouldn't feel comfortable with shooting for the max if there aren't clear ways to beat these competing properties.

Many lenders won't allow actual cash value or ACV.Repair cost or replacement cost?  

Your response will allow me to make sure my contractors are aware or include some of these things you mentioned during your conversion.

However, if you sell instead of rebuilding, the IRS may include part of the payout in your taxable gain unless reinvested under the §1033 involuntary conversion rules, which allow you to defer taxes by purchasing a similar property within two years.If the property was your primary residence, you may exclude up to $250K (single) or $500K (married) of gains if you lived there for at least 2 of the last 5 years, likely resulting in no taxes owed.

Co-living I like a bit more because you have less money needed for furnishing a property and CO laws allow it in the major cities unlike STRs.

I am in a large syndication group too where GPs are not even allowed.