depends on how active you are but remember you likely strive to make more than the trades (even though plumbers are expensive, my time is worth much more).  

We should jump on a call and trade ideas

Go to school and finish “ No Quitting” One went to college and graduated, with no debt because they worked all through college and applied to enough scholarships to make your head spin.One left home early and found consistent employment currently a young supervisor( now married with kids)The last one stayed home like first one got a trade in the electrical field (graduated).Then I told them no outside debt, you are getting houses.

Eventually, I'd like to utilize a 1031 exchange to trade up into larger multifamily units.Thanks in advance for your insights!

It’s a jack of all trades here with little to no trade offs/cons when comparing apples to apples to other large STR markets.The key to success here though comes in the knowledge and execution.

This isn’t an SEC traded investment, no liens or 1st positions, no personal guarantees on behalf of the GP, If you go back thru and show us your deal analysis versus your checklist you will probably see an investment marketed at 14% return which should have been Risk adjusted down to 8%.  

There's more than one trade to put on.

If the former, you may be trading $10K today for a long-term risk that could crush you at any time.

I would not invest if the good guys are losing ground, but that would run counter to your description that it is an appreciating area.It looks fine to invest in for the information you shared if the long term forecast for the area is safe and stable to improving.

I do not need a big pitch deck put together - if I need more info I will ask for it but typically first thing I ask for is the proforma - what are the assumptions and review them to make sure they are realistic.Saw a deal about six months where the rents were $600 and they were forecasting $750.