However, in general, you should see rents somewhere in the $3k's, possibly as high as $4k if it's in a really good location.

Protect your investments by keeping as much control as possible. 

There’s a large apartment (a few hundred units) being expanded 3 blocks away.It’s 4 blocks away from a major university health center (and embassy suites for hospital visitors) and 2 miles from another hospital (possible travel nurse MTR potential).

I have also been around real estate my entire life, rehabbing properties and assisting my family manage their properties throughout the years.

The developer cannot wait to make his money as quick as possible and move onto the next project.

That way you are learning to manage STR in the best way possible.

You're getting a triple whammy of (1) paying a huge tax premium for not 1031 exchanging, (2) trapping even more equity into a position where it's not actively working for you, and (3) possibly engaging in renovations that aren't cost effective. 

I have a potential sub-to deal possible with my neighbor.

we're about to get started with our first, so trying to learn what we might not know in order to streamline things as much as possible (especially since we don't live in the city where our MTR is)thanks!

For anyone new and Learning - anytime anyone says anything that insinuates a guarantee or provides a guarantee run as far away as possible