Step 3: Compare build plans / specs to decide what you want to build.

You understand some of the basic concepts, but also have some giant holes in your plan.

I myself am in a similar position looking to acquire a secondary home in the Banner Elk and would plan on using as a STR and would love any input on your findings!!

It's a 3 bedroom house and we plan to use technology such as a smart lock, WIFI exterior cameras, and a smart thermostat.

., multiple owners, estate planning, or asset protection concerns), consulting an attorney may be beneficial.2.

Yes we definitely encourage everyone to STICK TO THE PLAN when renovating!

If I find a property in the Denver area, I plan to house hack although Denver's price point is a hurdle for me so I'm leaning towards long-distance opportunities.   

If you plan to grow your portfolio, consider setting up separate LLCs for each property to shield them from liabilities tied to others, though this adds complexity and costs. 

Quote from @Jacob Sherman: Quote from @Kiran Asknani: Hi  All I am new to STR game and am planning to start with investing in Boston area or nearby suburbs as I have spent last 10 years in Boston.

This can potentially lead to problems and the safety of the others in the home.I am planning on speaking with him about the lease violations and switching him from yearly to monthly with an increase in rent, due to the increased labor of the cat and the checks in of the cleanliness of the room.