While prices are low (under $200k), there's absolutely a rental demand - especially for working class and professional tenants who aren't ready to buy.

@Rachel Seymour-NewtonIf the smaller property is a strong deal with solid cash flow and tenant demand, it could make sense to buy now and start gaining experience.

Existing mobile home parks are in high demand for all investors large and small.

So consider how long the lease-up will take:Is there so much rental demand that you can show it during the late stages of reno and get a lease signed?

Calling the appraiser to see what you can do to push it up a "C-Level" would be smart before doing any reno also, might only need a few things to make it far more valuable in the eyes of the bank.I've heard of a tactic for figuring out demand, which is to put up a dummy or coming soon listing on facebook marketplace and see the amount of activity you get on it. 

Hey @Mike Pepperday, AirBNB and VRBO are your best bet to see what kind of demand there is for STRs in general.

At that point there really is only a few.. file complaints with regulators and see if that gets you any funds paid back and or hire a lawyer and make demands and or litigate and enter into some sort of settlement agreement or get a judgement and hope that U can collect on it.OR dig a little into what the assets are whats left and can any new money be made with them.. the Mastermind business can be quite lucrative I know for a fact. 

Expanding to nearby areas with lower costs and strong rental demand can also make sense.

Ooh, just met an operator there and they're doing really well. https://www.bearbranchcabins.com/Sounds like the A-Frame design is doing much better since that's a trending renter demand.

There is almost no understanding CPM- several multimillion dollar coliving start-ups have FAILED b/c they saw the demand for coliving w/out seeing the need for a respective form of property management (see HubHaus, Common, Starling, etc).