Seller seems to think the vacant pads are worth very little, and of the 1.2M paid, most of that goes towards the income producing pads (with homes on them)...because the "CAP rate could not apply to vacant lots".Does anyone with appraisal experience can shed some light on this?

This is the simple playbook that tons of Americans have used to build wealth over the last 2 decades:1.

You can literally find answers to all of your questions within the confines of this site.

John this is great advice, thank you!

What are the scenarios that can happen with this second auction?

I'd like to increase this a the median for most 3/2  properties in my area is roughly 300k.

Looking forward to attending more breakout sessions at BPCON this year and meeting more presenters just like Scott!

This is our first time with STRs, and we’re willing to learn.

Do keep in mind, we are not approaching this from a purely investment standpoint.

This is the only property I own in Colorado and am curious what advantages I will have by putting it in an LLC outside of limiting my liability.