Every real estate investment is unique, and you're strongly encouraged to consult with an attorney to ensure your specific legal needs are properly addressed.

Do you have a specific question? 

I think they just see the lower rent and run with it in that specific situation.

I'm eager to learn more about:Identifying undervalued properties: Are there any specific strategies or resources you recommend for finding deals below market value?

I would also add that you join your local REIA chapter (Real Estate Investor Association) as it will allow you to network with other STR owners and get more location-specific information. 

We have fair landlord-tenant laws, similar to Texas, but still the specific process is different.

Chicago, with its vibrant neighborhoods and strong rental market, is a prime location for this strategy.

I don't want to violate any of the self-promotion rules on this thread by specifically linking or name-dropping, but it's from a data analytics platform I am working on specifically built for tracking construction, debt, and ownership activity in the Philadelphia region.I will be posting more detailed insights soon. 

Our first year out was crazy good renting for $3300 when market rate was around $2100, but by mid 2023 and 2024 it felt harder.

,  occupancy rates, capex plans, competitor rental rate study, market study, etc.