In other words, if I can acquire a prime freeway access property (190k daily traffic count) and build for less than acquiring a facility ($25 to $28sqft), with competition all over my 3 to 5 mile radius, although there are multiple new housing developments and apartments going up ->-> would you even consider it?

I speak /email with CMHA almost daily.

@Rich Emery if you're not EXTREMELY organized, you'll spend every day with your "hair on fire", making critical mistakes that cost your clients - and you'll get burnt out.Don't forget to research the licensing requirements of PMCs. 

Hair Dresser, Plumber, anything! 

I get tons of leads here on a daily basis with most if not all of them being responsive. 

I would have gotten significantly more done if I was being held accountable daily or weekly.  

You'll start to grow white hair during the process, especially entitlement/land use/gut-out rehabs.However, if the sponsor only buys and performs cosmetic rehabs, then I believe 2/20 or even 2/10 structure makes more sense.

It’s on my radar as a neighborhood I’m checking daily for new listings.

My STR and LTR's are all schedule E.Unless you are cooking them breakfast or offering daily cleaning with a turndown service you will be on a schedule E.

Looking to get into my first STR in the next few months out in the Knoxville/Oak Ridge/Gatlinburg area(s)....I understand getting average daily rates, occupany rates, mortgage, saving for maintenance/CapEx.