What's your best piece of advice or tip when starting out managing a STR?

Meanwhile hardly any emphasis is placed on the loan administration and even more importantly the relationship component of lending.Far too many investors, particularly those just starting out, are being conditioned to seek out the “easy” lending choice rather than invest time and energy required to cultivate meaningful relationships with lenders who truly value the borrower/lender relationship and are interested in assisting you grow.

Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction2.

I just shy away from places without strong established tourism markets i.e. growing urban areas, national parks, beaches etc.

Now the downside...In my area they recently started mandatory lease renewals.

Investing $135k in Upstate NY, particularly in Greene & Albany Counties, offers a range of possibilities depending on your goals and risk tolerance.If you’re looking for steady cash flow and long-term growth, single-family rentals in strong rental markets might be a good fit.

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If you are looking for someone as excited about this industry today as you were when you first started, that's me.

We've started discussing terms. $90k at 7.5% for 22 years.

The upcoming week has several of the big-ticket reports that have strong track records of causing rate movement.