You can often talk to them before you take over the property to see if they would like to extend or vacate upon a change of ownership.

@Joey Andres I email an addendum stating that rent increases to $x and lease term is extended to x date.

@John Mason, the way we have experienced Amex is that we had one personal card and they did a soft pull when they extended credit to each of our LLCs. 

.- Buying that first STR property in a “hot” vacation market that isn’t local therefore seems like one of the highest risk investments one can possibly make.I will not be surprised to see pain in several similar markets around the country, perhaps including certain desert locations that surged in popularity, certain lake areas, and the pain may extend to even areas like CO mountain towns, despite the fact that unlike the smokies, people do travel from all around the world and country to get there.

We anticipate that demand for mid-scale extended-stay rooms in this tertiary market of Raleigh will continue to rise over the next 5-10 years, as Johnston County is the fastest-growing county in North Carolina.

Look for opportunities to lower your interest rates and extend terms slightly without going for 20+ years.

We have had an extended period of above average returns for real estate.

I will add it to the BP events today but wanted to extend the invite.I agree with those that have already posted; surround yourself with a room full of people that are smarter than you in the subject you are aiming to become proficient in.

., I don't do extended stay short term rentals, but my neighbor does.

He's probably retired and/or extended with his son's development,  but he was a hands-on HML meaning he was very knowledgeable and would help underwrite your deal as part of his DD.