Those who had STRs at the GR recognize that a recession can greatly impact STRs.We had 4 well established STRs at the GR, 2 beach units in San Diego (STRs for 7 years)  and 2 beach units in Gulf Shores Alabama (STRs for 4 years).  

What do you pay for property management and how many units?

@Sean Haran I passed on a 4-unit that had some significant foundational bowing issues like in your pictures.

Do you have a preference on asset class (multifamily, industrial, self storage, etc.)Are you accredited?

To the degree, one is realistic, the probability of finding a replacement property increase.Say you want to sell a fourplex to trade into and buy via 1031 a 20 unit apartment building.And the market cap rate is 6% but you want to buy something that offers a 6.5% cap rate, you probably won’t be able to find it.

I did this with every course I've ever bought and religiously listened to self help tapes for the first ten years of my business, starting with Carleton sheets and moving through every guru that sold stuff concerning real estate. ( I spend ALOT of time behind the wheel in my job. )   Except for Carleton Sheets course...I've bought every course used off of ebay and probably only spent a few thousand dollars total on what has to be every guru and course available.

Quote from @Brian Mineau: If the investor is looking for properties 6 units and below you can still enter several markets in ohio at that price and the units will be either turn key or close.

Hi Vasudev,We self manage our 8 units in Anchorage, AK.

Pricing per unit for 17 units:Guesty - $60/monthHostaway - $35/monthLodgify - $13/monthTurnoverBnB - $6/monthI've also played with the idea of doing a combination of services to include either Breezeway or TurnoverBnB for their cleaning team systems.

I self-manage and it's my main source of income.