With all tenants, you should do your due diligence screening them.

They are properties circulated to long lists of unsophisticated buyers and if you are the highest offer you’ve likely outbid a bunch of prospective buyers who underestimated their improvement costs or overestimated their ARV while most likely  proceeding without the ability to perform normal transaction diligence.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

First, have you done any environmental due diligence? 

A 5-6 cap rental property, even one that is paid off, is about as good, after tax, probably lower risk than continuously doing due diligence on borrower after borrower and deal after deal 1-2X per year in perpetuity. 

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

Just set up a nice place, air,vrbo and direct and the rest takes care of itself(considering you are investing in place where STR are allowed and have done associated diligence)

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

Maybe that has changed but I would do alot of due diligence first.

Due to complications in due diligence (seller financials), the only way that it makes sense for us is if we can assume the current debt, because it is below market rate, already underwritten etc.