The final rate that was offered to you was 6.5% at a 30 year fix.

Just make sure you are saving towards those slow months during the peak months, buy a deal at the right price (don't overpay just because its a turnkey STR or you think it will make more money than projected), and look into ways to increase bookings during those slow months with some marketing and operation tweaks. 

Do you have any books or resources out there that he can dive into to help him hopefully avoids some of the common pitfalls?

After watching my wife, son and I build our 8locations over the last 7 years, he finally got the itch and saidhey, help me get started.Already posted theprocess he went through on another post developing the location.

@Raul Velazquez The 3 things I would recommend besides reading books/audio/sites are:1.

Here's why:The Multi-State Chess Game:• Client had properties in 3 states• Each state has different deadlines to assess taxes• Federal changes trigger automatic state assessments• Timing the response saved $45K in state taxes🏠 Real Estate Investor Pro Tip:States can't assess back taxes if their statute of limitations expires before federal changes finalize.

Read my book.2.

You've been sold by podcasts/books/vlogs that real estate can make you rich over night and it's passive.

Before finalizing a decision to sell, I thought I’d get some thoughts from the BP forumThe only obvious factor I know to try to head off a problem is to carefully screen applicants.

I guess that is implied in the chronological order of the book, but I dont see a 1-2-3 step-by-step process.