And second, as this is a long-term thing for me, I'm hoping to avoid markets driven largely by one industry or employer.

What are some thought provoking question that you have all experienced that have driven great conversation amongst the group?

Pretty much because I'm keeping an eye out for the dreaded nationalization wild card.Hopefully some investors find this thread so I can get some insight on the workings and if it's possible to build a renter/buyer list marketing fee driven position.

CapX reserve varies by those factors too, but is also driven by lender requirements.

Insurance prices have doubled in two years… oddly enough driven by the high value of the real estate.  

Some sectors took the opportunity to go AI or virtual instead of in person again affecting service workers.

We are becoming less of a seasonally driven market, but with a teaching hospital (UT’s med school), 3 other 4-year colleges, snowbirds, and proximity to an INTL airport, Galveston has plans A, B, C, and maybe even Z for strategies. 

Many OOS investors set themselves up for failure because they don't truly take the time to understand:1) The Class of the NEIGHBORHOOD they are buying in - which is relative to the overall area.2) The Class of the PROPERTY they are buying - which is relative to the overall area.3) The Class of the TENANT POOL the Neighborhood & Property will attract - which is relative to the overall area.4) The Class of the CONTRACTORS that will work on their Property, given the Neighborhood location - which is relative to the overall area.5) The Class of the PROPERTY MANAGEMENT COMPANIES (PMC) that will manage their Property, given the Neighborhood location and the Tenants it will attract - which is relative to the overall area.6) That a Class X NEIGHBORHOOD will have mostly Class X PROPERTIES, which will only attract Class X TENANTS, CONTRACTORS AND PMCs and deliver Class X RESULTS.7) That OOS property Class rankings are often different than the Class ranking of the local market they live.8) Class A is relatively easy to manage, can even be DIY remote managed from another state.

Specifically for NC, I can tell you the demand for STR ownership has skyrocketed over the last year which has driven prices up, particularly in tourist towns, nearly 50% in some areas (in one year). 

*Im not sure best legal structure of partnership business, *day-to-day operation of property management (a starting point we will have to adjust), *how to compensate investors vs bank financing, *marketing (is it needed), *tenant screening company or processes*maintenance tracking software suggestions(partner thinks ai can create a program through prompts to automate this part)If anyone's done it before successfully and willing to share some advice I would be extremely grateful.