(I would have replied earlier, and I selected "Notify me when a reply is posted", but I never got an email, so I didn't realize anyone had replied until I happened to visit the site today.)Btw, as others in this thread had mentioned, the real estate investor who did this did it this way to do the BRRRR strategy, but get the money out in shorter than the typical 6-month seasoning period many banks require to get cash out of a new purchase.

In looking for a vacation rental property there are several things that one should consider, some of this is very unique to a vacation property ....First is obviously the price and this of course isn’t unique to this type of property but you should have an idea of what your budget is and what you can afford to pay for out of pocket costs....For this particular home, it had to be a fixer upper, because I wanted a deal and I was working with a limited amount of money....Proximity into town was also on my list, this was very important as I wanted ppl to be able to go into town and enjoy a beer or good food or whatever, my place happens to be within 10-15 minutes of several small and very quaint towns. 

And even if no license is necessary, you will want to make sure the person/company you select is able to accomplish your ADU as you want and get you through the whole process legally.

Here is one that we rent, its an example of a good product - bonus points for being unique: https://heartwoodfurnishedhome...You need to be a very good operator and be very good at revenue maximization & pricing. 

Learned two things on this one: select tenants differently based on how close rooms are and if there is a shared wall.

Asset class selection is one of the first decisions you should make when deciding to start investing passively in real estate.

It is meant to get us in front of more sellers, but every one in a while sellers do have unique obstacles that make a quick cash offer more appealing.

Once a worker is selected, my team takes over to facilitate communication between that worker and the tenant.

Tenant selection can make or break a rental property.

The unique situation here is that the high ARV helps me because my refinance exit is going to wrap my other 3 properties into a single mortgage so that I have only 1 payment.