It was high rent, low entry point area but within 6 months I dealt with an eviction and electrical issues.

Paying a bit more might be justified if the pro forma income is very achievable, but $360,000 seems too high unless renovations are already complete.Factor in the costs and timeline for completing renovations for the studio and the fifth park-owned home.

@Nathan Gesner you just have a high value lesson to everyone.

It really doesn't apply as much anymore in most markets because rates are too high and homes are selling for too much. .75% rule is more viable and would be the new 1% rule in this market.

If you decide to use them as managers who take a % of nightly rates, I HIGHLY recommend asking them about ALL fees that they charge - including the fees that "Guests pay". 

Going into an area with little data is high risk but could be high reward. 

I was talking to a RE friend.He said it's a bad time to buy* rates are high* homes are expensive in most marketsLooking to hear some counterpoints. 

They're highly popular for turnkey rental properties because qualification is primarily based on the income generated by the property itself rather than the borrower.

There's some excellent relevant & recent material from very high quality individuals on this forum.

When you say you want to prioritize cash flow over equity, you want to watch out for people honing in on that and selling you "good cash flow" deals which will be in D neighborhoods and will come with high capital expenditures and harder tenancies.