My advice would be to stay away from short-term rentals before you get some more experience.

You need to charge a holding fee.

I lose control of the investment and these are long term, illiquid investments - but they put significant and regular cash in my bank account and a much higher rate than when I was trying to be actively passive. 

You can attempt to raise from a 506c but it will cost you $25k to get started, then if you did get your first $100k  and you are paying them 10% and you are making 12%, - great you just made $2,000 and that is assuming you were able to fund an entire deal immediately and have zero holding or carrying costs. 

I’m hoping to hear from other investors about what’s working for you in terms of finding leads.Whether it’s direct-to-seller marketing, networking, off-market deals, or something else, I’d love to know what strategies are bringing you success right now.

.- Strategies for building relationships with potential investors that lead to long-term partnerships.- Any unique approaches or tips that have helped you stand out and attract capital for projects like ours in the California market.Looking forward to hearing your experiences and advice!

@Margot WeatherfordIt will vary based on current lease terms.

Our city has changed a lot in that time, especially in terms of population growth.

you can always do short term, might get more money that way but it will be a little more work with the clean ups. doesn’t hurt to try!

Prepayment penalties- usually 1-5 year terms.