Last week I got a lead from a seller who hadn't made a payment on their B of A mortgage in 5 years which I could barely believe especially with this property being in Houston in a nice neighborhood... go figure!

The gist being that diversifying amongst sponsors that all do the same thing in the same areas with similar financing, is barely diversifying your real estate LP equity positions.  

That helps you out somewhat.However a) you did not use a licensed Contractor, nor b) are you licensed in AZ, nor c) did you reside in that unit you worked on (I assume?).

They can barely come up with the basic lease cashola let alone setting it up for success.Most also have never done STRs before.

@Nader HachemUnless something "hokey" is going on, once its sanded it will be bare wood. 

Barely managed to get out with a positive return.

@Rodney SumsI bought the building about a year ago and I am finishing up the renovations in the next month.It depends how you are looking at it but buying a personal home is a liability or at bare minimum a bad investment.

This ******** was barely okay during super low rate periods, but we're going to go with high(er) ish rates for the next era and people need to move differently.

Add in the time to manage it on a weekly basis and we are just about convinced we need to just get a LT tenant in, way less work even though I'll barely be making $200 a month off the property (if that). 

Barely a year ago you were here asking for advice on your first deal and now pretend you have all the answers.