In a bear market, it’s essential to buy well below market value and stick to high-demand features buyers are prioritizing.High Inflation: During periods of high inflation, the cost of materials and labor often increases, cutting into profit margins.

@Nicole CotrinoKey factors: Do you materially participate in managing the property?

If there's a material issue with the property, it's not going away if you cancel your agreement, they'll have to deal with it for the next buyer, too. 

Totally understand,Generally that initial purchase-rehab loans will also be driven by your experience in the area.

However, my perspective is more cautious, driven not just by statistical analysis but by firsthand observations in the field and insights from investors and developers across the country.

Can a long-distance investor be considered materially participating in their STR property?  

Any reputable contractor has material accounts everywhere and doesn't expect to be paid for labor S/he hasn't yet performed. 

External is usually where they want to approve the color of the house, types of materials, roofing, landscaping, driveway condition, etc.

While I am totally new to this venture, I am driven by a passion for investing and the potential it holds for creating financial freedom.

Do you have credit cards with places like Lowes and Home Depot that you can use to buy materials now and not need to pay off for maybe 90 days?