However I an highly motivated to do a short term rental purchase now, while the occupancy rates are high and Covid seems to be coming to an end. 

As you all know the mayor of Chicago continues to extend the covid mandate another 30 days every month.

The downside to these is that you will be paying much higher interests rates (normally >10%) so you want to get in and out with the rehab as fast as possible, which I'd imagine can be difficult during COVID where supply chains are all sorts of messed up. 

Hi Azeem,If it were mine on 04/20/2021 it would be Bye Bye, and I'd be financially (and with the Covid--have the supplies on hand) ready to turn the unit.

If you aren't happy with the one you are doing, maybe search for something else, but a w-2 job is very helpful, especially right now as we are still dealing with covid and eviction moratoriums, banks like to see a reliable income.

I remember doing some research on this last year, right after Covid hit, and I saw a lot of negative reviews when people were trying to get there money out of their accounts.

Also it was just challenging navigating the one person working at a time thing since Covid had just started.

The tenants have been giving him a hard time and due to COVID they haven’t been paying the rent.

You may end up replacing this occupant with a nightmare, non-paying tenant (the “blame Covid” types). 

Job growth numbers are negative in all markets due to COVID so are not very meaningful at the time.