The good news is that this is totally do-able, but you're going to have to play it smart by buying smart, ensuring as best as you can that this property can attract and hold good tenants.In the meantime, I wrote up a guide that teaches first time investors how to rent out their units from start to finish, no property management company needed.

**Assumes rents increase 4.2% on average each year (Rents inflated 6.2% last year but we will use the historical average).

The extra exposure leads to increased occupancy and can offset the fees.In the end it is a personal decision but do your homework and avoid the big companies. 

Nearby attractions are helpful for non-show days.

I would first try to increase your income/liquidity or bring on other investors who can provide the capital. 

The physician's loan may be tough to qualify for due to our particular circumstances - me not currently practicing and her being a veterinarian (i.e. not an MD).We have a combined income over $250k at the moment, which could increase as my business grows or I choose to return to full-time work unrelated to the business in the future.

After getting burned a couple times by professional, experienced renters who quickly recognized our management inexperience, we began to pivot to increasing our knowledge of subsidy programs, mainly Section 8, which had inherent resident accountability measures modeled into their programs.

For STR, I would look for how you can make it a truly unique stay to attract bookings.

I suppose it increases the value of the home.

To make the deal more attractive, I am willing to offer a first position if the lender/investor can ensure closure by February 9th.