They do have a review from a returning guest that mentions the quality went down when comparing their first stay to their second stay.

You can then take some of the profits and buy some quality RE, which will probably just break even for the first years, but that's not why we buy real estate anyway..

Then, having covered my base, I'd try to differentiate myself, by having the best located property, the best quality property (given the price of course) and offer the best experience.

No matter where you choose to invest, please keep in mind the following (copy & paste):--------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

Never pay for work that hasn’t been done.3.Verify Work Regularly: Have an objective third party inspect the quality of the work weekly and provide updates.

Days wind down and now they have a (knee jerk) reaction and buy something non-optimal for a property just to avoid tax penalties.Had they been realistic starting out they would have had time to locate quality properties to buy instead of looking for a Unicorn.

But there are also some real challenges, like dealing with lower tenant quality on average, the extra red tape, annual inspections, and the longer time it takes to get tenants placed compared to the open market.

Risk assessment and mitigation: Quick analysis of crime rates, school quality, economic stability and environmental risks. 5.

For someone that's not as conservative, or a different view on the cycle, they might have a different opinion than me on all of this.2) Sponsor quality check: (takes about 45 minutes per deal)I believe that a great sponsor can take an average looking deal and make it great, and that in mediocre sponsor can take a fantastic looking deal and make it bad (especially if there is a severe recession).

A quality deal you have control (under contract, seller only wants to work with you, etc.)3.)