Thus, we needed to create a bright-line test for how we would differentiate.

It's a long and capital intense process.

What I am saying is; the worst thing that can happen to you is your family member who give loans dumps a wad of cash in your hand when you don't know 'poop from Shinola' about the real estate business and you learn about the business with 'loaned money' as you fumble, crash, burn and start to hate the real estate business.The best way to start any business is when you start slow and with your own money because if you have much less money than your relative will lend you then that is much better for you because you need the time to learn before you blow a huge wad of cash while you are trying to learn.You can jump in the water without testing the temperature from 50 feet high, or you can test the temperature by standing on the shore and sticking one toe in at a time.

I would not buy it in North Lawndale unless you do the "night test" .

My uncle personally has a few cash flowing rentals that at the time of purchase he got at a good price before major market changes, and even through the overall loss of value in his doors they still maintain a higher growth potential just with the cities intense influx of people, organizations, sports teams ETC...Hope that's in some way helpful!

That is more intense management that may lend itself to finding a good manager.  

I have one lot to start with as a pilot to test this market, then probably would do 3 or more per year thereafter.  

Short term rentals are notorious for being difficult to finance with a bank as the STR industry is relatively new and not market tested as of quite yet to allow big lenders to consider them investible via a refinance.

Always do a soil test Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

We're live in New York and Florida for testing, and going national next month.Here's the site: www.strbrain.comUse code VIP2022 to purchase a report at the same cost it is for us to pull the data from across various websites and data providers.