We are month 27 since the rise of rates, and month 11 of the expected peak of rates.

The rest of San Diego still has STR permits available.I am hoping for a good peak season to offset how poor the off season was.You are doing something very well if your ADR is up (or you previously was doing something terribly wrong). 

The home originally sold for 1.3M (during the peak of 2022) but is currently listed at 1.1M.

What peaks your interest in Terre Haute being an OOS investor? 

Hey @Tom Brown - I'd echo @Paul De Luca and recommend @Samuel Pavlovcik, but also through out @Prashanth Mahakali...both are awesome Chicago architects and good friends.Things have changed with the City of Chicago, but probably not enough...whichever architect you work with just make sure that they are self certified which can drastically speed up the process.What neighborhood is your property in?

Knowing how quickly great deals are bought in this market, speed wins, and after a follow-up showing the next morning, I put in an offer on Friday.

As a passive investor getting a mentor is a cost/benefit decision: money for training, experience, access, and therefore speed. 

This will aide your attorney in quickly getting up to speed on your overall issue.

Or, if you know of someone who's already doing what you want to do, lean into the relationship and offer to help them (ask them what they need and do it) so you can learn by doing.There's no "easy button"; I do like the idea of paying a mentor to speed up the learning curve, but that's not always feasible. 

A big difference is that their season is year round (and if anything, this is the low season right now) whereas I'm assuming Galveston is a ~6 month season with only 2-3 months of really peak rates.But I agree it's doubtful the properties are cash flowing at current prices/rates.