If you are carrying financing on the project, this can burn through all your "savings" pretty quickly.  

The numbers don't make sense when you first look at it and the only reason I took this path is because I had money to burn and it was fun.

Then they started to keep their belongings in the space, which I didn't mind at the beginning, but recently I see they leave dangerous items such as burning candles and a standing mirror without mounting.

@Cassidy Burns you are asking a question that I have been thinking of these last two months.

I've seen owners take on problematic tenants for guaranteed Section 8 rent and they were burned in the end.

If you have no experience and you try to start off with a complicated, high risk, difficult to learn strategy (like syndicating a 300 unit portfolio), you'll probably crash and burn.  ...sure, a strategy like syndication could allow some to scale up quickly (if they're a master syndicator), but if you're a beginning investor, you're probably not prepared to take on something like that.Similarly, starting off with a $10 million self storage facility or 50+ unit multifam portfolio probably has a high likelihood of failure for an inexperienced investor (and the consequences of failing at that scale are pretty serious--e.g.; bankruptcy, and potentially losing a lot of other people's money and thereby ruining relationships in the process).Beginning skiers should start off on beginner terrain.

Fat being trimmed from the market.

I think my burning desire to finally acquire a property was outweighing the numbers and it was also minimizing the risk (betting on appreciation) which is a risk that shouldn’t be minimized. 

I believe you'd be best served finding a partner, someone with the time, knowledge and savy to do it but under funded, I am betting they would have found a lot better ways to burn through that $200k and 9 months then this.

People who had no time or no desire to learn about the industry bought in, did it wrong, got burned and decided STR is no good as an investment option.If you're interested in STR, yes, definitely read online reviews of travelers.