That extra cash flow isnt safety, its the market signaling with a big red flashing light, Risk.

I have had people work for me for years under this concept and with some very few minor disagreements it has worked out very well, the money saved allowed us to do 3x the work than if we had gone the traditional route.

For you 1st property, probably a good idea to start with something that's more turnkey / light cosmetic work needed before diving into full renovations.

I still have clients buying in Vegas, but it's not as common due to cashflows being hard to come by with the traditional 25% down financing.  

They're already there and given the holiday season, probably the traffic is light, so you can chat then up for 10-15m about the area, rental class, as well as any remarkable developments in the area that would positively impact that home/area. 

We tell hosts all the time, it's more management and more money than traditional SFR.

My vision includes developing the land into a destination with features like driveways, walking paths, utilities, and unique lodging structures.Here’s my tentative plan1.Place the existing STR in an LLC2.Apply for an SBA small business loan to fund the next steps, including a feasibility study (~$10k+), land clearing, and infrastructure development.While this direction excites me, I’m torn between pursuing this venture and continuing with a more traditional approach—buying one home per year using conventional loans.I’d love to hear your thoughts:•Has anyone transitioned from STRs to glamping or similar ventures?

“Selling” a co-living room is very different to showing a traditional unit. 

Buy a house that needs cosmetic work, kitchen, bath, flooring, paint, lights etc and fix it up yourself while living in it for a year.

You can refinance into more traditional loans later, but that initial speed matters.