The key is to take action—analyze deals, connect with local investors, and learn from experienced mentors.Good luck!

I’m happy to help and share what I’ve learned!

Lessons learned?

I guess be happy it’s only a couple months and a cheap lesson learned?

I'm now where you were back in 2021, learning about DSTs for a 1031 exchange.  

One middling program I got into, I later learned the founder was trying to get out of managing real estate because "it was hard" so he decided to teach real estate investing instead. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Lessons learned?

I found out pretty quick my skills from years of running LTR didn't translate to STR and had to learn a whole new set of skills (some of which I already had from a career working with the public).  

Educate yourself with resources like The House Hacking Strategy and practice analyzing deals using tools like BiggerPockets calculators.