My wife and I are very confident in the work/knowledge needed for flipping our first home and we have lots of connections in the construction industry for the things we are not sure about.

I'm doing my due diligence here on BP as well as my nose in books. 

I like having options so something to consider as well!

Terry, what has not gone well with Mid South?

The numbering on the left indicates it may be a state-provided form, but it's not well-written.

I imagine there are a lot of 3/2 that probably sleep 8-10 and if you can offer a slightly larger bed count and a cool game room/theme room you can differentiate yourself a bit from your competition and get some extra revenue through slightly higher rate (extra person fees, etc) as well as an overall higher occupancy. 

There are also 80% LTV options available as well around 7-9% interest too.

full transparency, my partner and I got ourselves into trouble last year forgetting to file our local taxes in our new mucipality as we did not realize local taxes needed to be filed as well. we ended up hiring a tax accountant at the very last minute to help (after receiving mailed noticed) and went through all of this trouble for a measly $20 return. at least we got something for it, I suppose. 

@AJ Wong my prior STR experience was with a home that rented well, but was getting to the point where major upgrades/renovations were going to be needed in the near future to keep it in the “mid luxury” market.

The area should appreciate over the next few years as well.