If the properties are in excellent condition they may be worth closer to the asking price... esp. if it means higher rent.I think the seller has just inflated the price to give them some wiggle room - certainly not the first time :D

So now the market is correcting the prices are rising, the margins are narrowing and the winners in STR will be those who excel at management, marketing and value add.  

@Eliott Elias EXCELLENT advice !!!!!!!!!!

What I like about errand is that the rent collection has excellent reports something you will need desperately desperately if you get tenants that partial pay or late pay you'll need a way to add up everything they've paid monthly and then annually for taxes.

Value Add, Cash flow and excellent exit strategy How did you finance this deal?

Excellent work!

And done right will provide an excellent return.Easiest, least risk investing might include a REIT or now an ETF but they do not really offer any tax advantage.

I'm an out-of-state investor and was looking for recommendations on a good property management firm that provides excellent service to tenants and charges reasonable monthly fees.

Hone is in excellent shape - new roof, floors are perfect- just a time capsule from the 80s.

You can get excellent tenants in some pockets of South Shore, but this area is very block by block.