I will also say that the majority of our clients focus syndications (even if it's through a fix and flip fund) given that it is just much more scalable than doing one-off raises. 

Your HOA also will have to unless they are organized as a 501c3 which most are not.

@Derek Heinz you might be better off finding a major fixer-upper, getting a hard money loan (HML) to acquire it. 

.- It's very difficult to argue about travel being a business expense if you're just going to look at properties, I would argue against it in a majority of cases.- Depends on what you're doing specifically, but usually I'd recommend getting an EIN at least to give access to business bank accounts- Repeating #1, if you're going to a property and 100% of your time is spent doing renovations and the like, sure, but if any of it is for personal benefit, that'd be disallowed.

We are organized and active and that would be our best case scenario.  

or should I just wait for the reviews to come in organically from outside bookings?  

,While no investment is completely passive, proper real estate investing should be relatively boring.You asked about the process and major considerations.

Screening and Gaurantors are important, you might want to look at majors for some more serious ones that don't have time to party. 

Also, from what I read in Bloomberg, midterm rentals near major hospitals can sometime command a decent premium.. especially if they include some nice furnishings.Little Tweaks Count: Even minor upgrades, like new door locks or a fresh coat of paint, can help you justify a stronger rent.Driving for Dollars & Networking..

I believe the appreciation has been great over the past couple of years and prices are lower than in major areas like Miami metroplex or Charlotte.