They had a very specific vision for a dream beach house.

Philadelphia area, Chester county to be specific. 

What was the outcome?

For STRs, you're going to price according to your market but also most likely using a dynamic pricing tool to take into account location-specific demand fluctuations.

Also worth noting, unlike the stock market where you can buy into the broader market and the market price is set, real estate you are buying a single specific deal where prices are not set.

@Jason Allen a wise question, but there's no specific industry standards in the SFR area, like there is for MFR.Read below for what we use:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.When investing in areas they don’t really know, investors should research the different property Class submarkets.

What was the outcome?

I was wondering if anybody had some area specific issues to keep an eye for and what are the BIG problems to avoid.

Don't know this specific "mentor" but I would typically advise to steer away from them.

But they put on things specific to the foreclosure being done property like the power of attorney for the foreclosing company to act for the bank owner.