Usually the property is bigger and can command a good nightly rate.

15.3% Self-employment taxes is a lot.Scenario 1 - You do a cost segregation study in year 1 and create a huge loss to offset your other income, great for year 1.Horrible for years after 1 as you used up a majority of your depreciation and now your net income will be subject to 15.3%.If your depreciation is mostly used up and don't plan to have net income, your business is not profitable.Scenario 2 - No cost segregation study is done and your depreciation is calculated over 39 years(low depreciation rate, you will likely be paying some sort of net income subject to 15.3%.Maybe not in year 1 if you have a lot of furnishings installed.

I don’t have a crystal ball and neither does anyone else, so we don’t know where rates or home prices will be exactly.

I'm thinking I would have to possibly engage an attorney.At any rate, thankfully the issue was resolved a few days later.  

I still see tax sale trainers quoting a rate in MD that is higher than any I have seen in the 15 years I have done this. 

The main downsides can be slightly higher rates and/or fees and a prepayment penalty.

That’s the best way to ensure a profit imo with STRs since the going rate for a management company is 20% of your gross revenue.

Then: I want the lowest interest rate possible.Now: I want the easiest bank to work with.I think my investing career has gotten easier and more fun since I've changed my mind on the above 3 items.

A lender would require you to have this done, but if you are paying cash, nobody will force you to protect yourself.Third Party Reports: $17KSurvey $2KTitle Recording and Search $5KAttorney Fees ? 

Obviously a high interest rate could eat into your investment.