One component for investors to consider is an exit strategy.

It sounds like two out of the three components of the 1031 exchange were in place at the closing. 

Because the underlying housing asset (the leased property) is only one component of an STR hosting business.

I pay attention to our competence, responsiveness, effectiveness, and other internal metrics. 

I invest locally because I am fortunate to live in an affordable, thriving real estate market but I also have experience working with investors from out of state and even internationally.

The option has two components: a price and a date.

A quick synopsis: We got our zoning approved through the city, we then had to get a variance because we want to run an 8 bed facility but the International Building Code would have had that be a "Commercial" property and would've needed to be compliant with all of the ANSI requirements like having an accessible main floor bathroom and 2 accessible main floor bedrooms, this would've been cost prohibitive to us.

A streamlined process for cost segregation studies: AI is able to help streamline the cost segregation reclassifications by analyzing and identifying property components into their appropriate useful life more efficiently than traditional methods.The ability to identify eligible tax credits: AI is able to sort through and analyze a vast amount of tax laws and regulations in order to attempt to identify potential tax credits available to the real estate investor.

Need a new roof in a 3-5 years, you probably want to be pretty liquid (year long CD, Money Market, maybe very short term bond fund etc) for those funds.On a condo board 15 years ago, I  was once able to get us into some nice CD's a decade ago that laddered with the useful life of components.

@Joe Fish maintenance is the most opaque part of PMC services.Most PMC's charge by the hour for maintenance handled by their internal staff OR they charge owners via their own invoices - which hides the actual costs.When hiring outside contractors, most PMCs add a markup - that again they often hide by billing owners via their own invoices.