If you have a crew of committed resources to complete in essence a new build in a short window that is one thing but of not, where the market is now may not be where it is when you are ready to list it.The other thing is that when you have someone that thinks they know the market whispering in the sellers ear, you will likely have a challenge on your hands especially when you are offering almost half of what the seller is being told it is worth (even if it is not). 

@Grace Maxwell I did have the cash but I committed to remodeling the two properties I already own.

@Robert T.

It’s at a much higher level of intensity, commitment, and risk.

I sense you're not fully committed, and it seems you might give up if things get hard.

It's important to be realistic about your budget and make sure that you won't be stretched too thin financially.Length of the lease: A two-year lease is a fairly long commitment, especially if you're just starting out in the short-term rental business.

Like I said it takes a lot of the startup guesswork out of the equation that many people struggle with, but you're not having to commit to a full time manager@Carlos Ptriawan You're absolutely correct, but I think it's unlikely that someone setting up their first STR is also going to be adept in hiring and managing VA's.

It simply depends on how much time, energy, and commitment you have to invest.

@Douglas T.

Make sure you understand all of the requirements associated with purchasing and closing on a foreclosure before making any commitments.