If we are purchasing properties when the market is a highly appreciated seller’s market, we need to realize we may be in DUMB DEBT and should be prepared for the risk of suffering the consequences if and when the economy turns for the worst and goes into a recession as this will likely cause values to drop.

Plus is 4% even in line with market cap rates?

Unless you make the theme of the house around that famous person, I dont think consumers will pay a market premium on ADR to stay. 

Would love to network with some people to get to know the area and the market a little better, as well as to hear about your experiences.

In fact, it is usually an automatic no deal unless you are putting 50-60% down for an investment property, but at that point, it wouldn't be worth putting that much cash down on an investment property where you can get much better returns in markets such as Denver. 

Hey @Ashley Kroft I love using Pricelabs feature of creating a comp set because you can really drill down to the finer details of what others are doing in the market, in your specific area.

Make sure to factor in insurance (slight change as rental), property tax (in our market is 2x a primary res), vacancy (3-5% in most markets), capex (old roof?)

Those that own it can be harder to sell as the cash flow from the business will cover the debt service for the business, but not for the real estate.Example: I had a very high-end assisted living facility on the market. 

So the risk is lower, as long as the market doesn't drop 20% and stay that low for the next 3 years. 

Marketing-Ready Design – Your rental should look as good on camera as it does in person.