Firstly, the people telling you to go ahead with it will not be there to pick up the pieces if it falls apart or is a daily headache.

@Katie JewellI record on these activities daily.

A PMC, has to deal with whatever you buy on a daily basis, so they have the most "skin in the game" with you.PM us if you're interested in the Detroit market.

If you aren’t an experienced investor, most bank will require you to hire a professional pm company to oversee and manage the daily operations of such.Do you actually think that the PM company could afford to pay a manager out of the 4-6% they receive???

I can promise we're not scammers,we are a very legit business..plz do not take head to that saying of our company as it's just not true we are on top of investors making calls daily to do follow-up.

I run numbers daily and rarely do I find something that will cash flow nicely.

From that I was able to find a great realtor and a duo general contracting team that has been very reliable- chatting with them almost daily and doing a video walk through once a week. 

Winters can be tough so we use airDNA to get a sense of the Average Daily rate and occupancy for the year.

Rates ticked down the most in a week for 2024, last week so sounds a hair high..we just priced a DSCR purchase for 5+ units just below that..Check in with @Joseph Chiofalo for a quick quote.

In a recession the STR market will be the first to get hit and your proposal doesn't have an exit strategy as the value of the property along with daily rates would decrease substantially.