Good Morning,I am looking at this market for STR and was hoping to get some first hand feedback from investors who are currently using this market and how successful it has been. 

And no point limiting yourself to $200k if you can afford $500k, and the potentially better investment choice that opens up.Beyond the basic calculations here are a couple things to think about: typically, lower income, lower cost areas come with higher turnover, heavier wear and tear (read more expensive turn over cost) and longer vacancy between finding qualified tenants.  

Link: https://www.hud.gov/program_offices/public_indian_housing/pr...Not sure if these will make up the entire cost, but I wanted to share a couple of ideas.It will work out.

The route is to get a couple of additional partners that have more experience.

On the other hand, if it's a rare amenity in your area, it could make your property stand out.Best of luck with your new investment!

Be professional.....it's only a few hundred bucks for a couple visits, and the next owner will expect and appreciate that the house is squeaky clean and pest-free....

I recently met an investor who informed me he'll be looking to sell a couple duplexes and a triplex in the next couple of years as he's getting older.

Observing that the business consistently attracted a loyal clientele, coupled with high profit margins on services rendered, I saw an opportunity.

We've followed the advice over the years to have many LLCs registered in the state where the property is located and then just have a couple of properties in that LLC, depending on the property values. 

There won't be any language around their responsibility toward utilities (although we may implement a cap if the bills get out of hand) or lawn care/snow removal.