Good morning BP Family,I've been reading the forums for a while, but this is my first post.  A quick intro about myself, I purchased my first rental property in Oct. 2017 and currently have 16 units.  I've mainly inve...

We were in a competitive space, make sure the location you choose is the only one within a 1/2 mile radius or competition will erode your profits.If you are fortunate to purchase an ideal location keep in mind the revenues have plateaued by time you've purchase the business (if the business is more than 5yrs. old).

Theory and reality are two very different things, especially as increasing competition drives down occupancy and nightly rates in most markets.For the vast majority of people, the most likely thing it will generate is huge amounts of future risk

I keep a few shotguns for hunting and competitive clays. 

Although they are more admin heavy than HML, rates should be more competitive. 

Less competition also.

@John Thompson THere is a lot of competition in HML right now.

@Rob Anteau You need to look at what your competition is doing.

., a competitive offer for this home would be around 720k. 

I do think there are definitely other markets that would be more conducive to a new investor being successful in.Long story long, it's a hyper-sellers market with lots and lots of competition.