Mind you, you can't count on appreciation, but you can expect at least 2% returns on rentals.

If yours is the only STR within 20 miles and there aren't any cities or larger towns within a 20-30 minute drive, you could easily run into trouble even finding a reliable cleaning person, let alone a full-service STR management company.I would also definitely take the time to find some comps on Airbnb in the same area as yours, with as close to the same bed/bath count as yours, and with the same finishes and amenities as you are planning to put in yours.  

You'll want to get permits because on the property exit you'll be able to count the square footage. 

This is income he is counting on NOW. 

For this reason, it can often be tricky to try to retire, or otherwise count on your cashflow to live off of during the first few years of ownership. 

. - sophisticated value adds: development, TIC/coop, take advantage of localized regulations (2 off the top of my head: San Jose lot split for ADUs, San Diego city unlimited ADU count in existing conforming building), etc.  

Fannie/Freddie count ALL personally guaranteed 1-4 unit properties loans in the 10 financed properties max.

Thanks.Johna syndication invests in one asset, our fund invests in multiple assets (120 and counting).

One of the biggest things I regret looking back on my career is not getting into multifamily sooner and thinking that I had to start in residential and then to slowly work up my unit count.

It's mild insanity and recipe of long-term failure.If I counted up the amount of times I could have told an investor I told you so because I gave them sound advice and watched them not follow it and lose money, I could fly to the moon private.