Just make sure you are saving towards those slow months during the peak months, buy a deal at the right price (don't overpay just because its a turnkey STR or you think it will make more money than projected), and look into ways to increase bookings during those slow months with some marketing and operation tweaks. 

All of my contacts in the financial sector say bitcoin futures trading is going to explode in 2018, so I think a 500% increase in the next 13 months when the floodgates are open to institutional money isn't a huge stretch.

Structured LearningReal estate tends to attract people who have shiny object syndrome.

With the COVID-era surge in home prices, rapid increases in mortgage rates, and rents not keeping pace, it really has gotten harder to make these deals work.

Rents have increased significantly but so have housing prices. 

Cost of value add was $120k, so over $580k of increase above costs.  

This is very helpful.I agree and am aware that there is increased risk to an auction property. 

ADU increase value less than the hands off ADU addition, but a developer is not a hands off ADU addition.Thanks

Top 3 reasons owners hire PMCs:1) No time to manage correctly2) No time to learn how to manage correcly: laws, documents, processes, etc.3) They're too nice and need someone to "save them from themselves"A good PMC can usually earn their fees by better managing the property/tenant than the owner, thereby:1) Increasing owners net profit2) Decreasing owner's time commitment, stress, headaches, etc.No matter what though, you should always plan to commit a couple of hours a month to manage your PMC.

Class A properties are going to cost you more, have lower cash flow, yet be more attractive to a higher quality tenant base.