Conduct market research, get pre-approved for a mortgage, define property criteria, and use analysis tools.

There are a lot of hidden opportunities in our market.

I've never marketed it to groups larger than 8, so I don't get as much rent as I could.  

What are the market rents for the property and do you have $15000 for the down and $8000 for all the closing/title/settlement/new impounds?

We have found that finding an investor-savvy agent to buy property on market and a solid wholesaler to buy off market properties is the perfect marriage to find deals. 

Broadly speaking, I would say network with developers in your market that are doing what you want to do.

In today's market, it can be hard for some people to tell what they should do with a specific property. 

We also have 100’s of markets with their own MLS rules as well.

Now the city initially said they would limit the amount of days, but upon going down there and spending time with the city workers there (they are very nice) it seems there won't be enforcement on the number of nights rented out.

However, with 25 years of experience in RE Syndications, there are several major red flags I look out for:High Cash Flow.Aggressive Marketing.Lack of 100% Transparency in PPM and Marketing Material.Whenever cash flows exceed market expectations, I question the sustainability of such returns.