To have a successful STR I HIGHLY recommend listening to this episode of a podcast: https://podcasts.apple.com/us/podcast/on-the-market/id161508...Once you listen to this, and any highly involved STR operator will agree, you will find a lot of the fundamentals are lacking in Kissimmee or you have to have deep pockets to hit those.I won't spoil the episode, but if you listen to it (and anyone out there that does) feel free to DM me afterward and I'd be happy to talk details tailored to your situation on if you're on the right path or maybe I can help.

Personal Circumstances: Consider your comfort level with debt and risk.

it was an interesting process but basically, the novation allowed us to get the deal done without having to involve the banks. this was a huge motivation. that way I save on having to close twice. 

If you're still interested, take a trip to the site once ground has been broken.The flashy marketing material for a new development is great, but don't put your money at risk for something that's likely to vaporize.

Risk vs. stability—what’s your move?

Normally “Developing” gets a higher returnthan Buy/Hold due to the Occupancy risk.

There's no one right answer for everyone since we all have different financial situations and risk tolerances.  

Continually communicate clearly with all parties involved to make sure that expectations are as close to realistic timelines as possible.

Instead of putting your whole venture at risk through a single partner, I suggest you build a team of employees and develop solid succession planning.

I heard when you're young, it's the best time to take risks, at job that might pay less, but offers knowledge, experience, and growth.