Some of my friends are investing on the retail/commercial side opening bars and boutique hotels and coffee shops there.. but I'd be cautious about investing in STR.

The three day workshop is this weekend.Since the seminar I have been all over the Kansas City Metro looking for the right house to flip and being my first one I have been ultra cautious.  

But I guess be cautious is better than being trigger-happy.Well, I don't expect anyone to have read through this essay, but this is more for me to look back on one day hopefully.

Something I would be cautious of is not having an emergency fund if you invest all of your 10k.

@Jose Lampreabe You own the property and can choose to do what you want with it, I would be very cautious of a turn key company that tells you that you have to use their PM.

With these, they have an agent advising them to be cautious, and there will need to be a commission coming out of your down payment.

Winston, remember the government is not operational right now so be cautious when dealing with gov. back loans.

@Bob Bowling   Lenders these days won't go for hold backs   they will require the work to be completed prior to funding and for the appraiser to come back and complete the 442.Appraisers are very cautious these days they don't want to loose there licenses for these type of issues..

I know the basics of it but what are some things I should be cautious of or look for?

The other 3 have the feeling of bait/switch in trying to gather members and utilize/take their money to make themselves richer.I'm learning, growing and am probably a bit overly cautious before taking an actual action.