I don't have any experience and I don't want to make a serious mistake in my first investment, especially if I am unable to be there and handle it in person.

You're going to make mistakes but that's part of the business.

But make no mistake, any STR with 25-30% PM fees AND a good size HOA fee (which any mountain town will have because of snow removal) will cause your expenses to be much higher than a typical rental.

@Jim Cichello As the great coach from my alma mater John Wooden said: never mistake activity with achievement.

One mistake these days can cost you thousands of dollars in tenant causes issues.

Especially if this is your first flip you need to leave cushion for mistakes your will most likely make.

If a PM makes a huge mistake, they're not typically going to try to hamstring you into a contractual battle, but you can always ask to start with 6 months and then extend from there.Hope you're well, man!

While you are more likely to make mistakes early in your investing career that could place you in court, you are also risking less.

Again, I was in a hurry and probably missed some things but I’d love if you all could take a look and tell me what you see and any mistakes I may have made which cause the deal to look better than it actually isThanks in advance!

Getting your first rehab project will require you to create a SOW, talk to contractors, compare and review bid proposals, review budgets, & make countless trips to Home Depot.​You will inevitably make mistakes and underestimate things, but you will learn 90% of what you know by just doing your first rehab!