Without proper boots on the ground, your property will never get the proper love & respect it truly deserves (I get it.

This would be my first STR so I also am personally interested in giving this business model a try to see if I do want to operate in this space longer term and want to do this properly. 

I've built a $18M RE portfolio without ever having to do a syndication.I hope I answered your question properly!

There are just so many existing pipeline right-of-ways that you cannot physically find an undisturbed site big enough to be worth it near Midland proper. 

This is something I would have to dig into your background on to properly advise on which asset class might be better for you and also how much management intensity you desire and/or can handle.3.)

Perhaps refinish existing wood floors rather than install new LVP to save money.

Be mindful of this, and make sure you ask all the proper questions before you jump ship. 

If P&Ls were manipulated or tenant histories weren’t properly vetted, that’s a serious issue and could form the basis of a strong misrepresentation claim.

It’s so comprehensive that I’m compelled to give you a great answer, but there is so much to unpack that a full proper answer to every question may take longer than I have tonight.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.