I would also recommend picking your preferred investment strategy first, then find a market where the data supports that approach.

Again, keep in mind the exit cap rate is a projection of what the asset expects to sell in 5 years (or whatever the hold period is) and nobody can predict the future.Solution: Ask the sponsor how they concluded their exit cap rate and where they are getting their data from.

Instead, ViaSat seems one (or perhaps the only) satellite internet provider and from what I can tell, they have serious data cap rates on their high-speed data (even with their platinum plan)Does anyone have experience with ViaSat (or alternatives) and can provide insight on how viable this is for STR properties (we fortunately plan on cable TV with DIRECTV via AT&T)?

Does anyone have suggestions on how to download sales data in a specific region with buyer and seller agents attached to each listing?

But at the same time there aren't many active comparable rental properties nearby, which makes determining the market rent of a property difficult.I found that using rental listings that are inactive but were recently active provides me with a lot more data for determining market rent.To do this I go to the Zillow rent estimator tool and enter my property's address as well as a (very) rough estimate of the rent.

We focus on STRs but ensure the LTR rate out cover the mortgage (I double check expenses).

It's knowing where to look and having someone work with you that knows what the hell they're doing that will help you cut through the big data and make sense of under-valued acquisitions, of which, there are plenty. 

You'll have to work w/ a realtor for access to this data.  

We've already agreed on rates, and I'm going to ensure all the paperwork protects me just like it would any other lender (proper contracts, personal guarantee, etc)The part I'm unsure of is what type of entity it should be under, just a regular LLC?

Change the keywords around, look for different size lots, BRs, BAs, features Etc....sometimes different places will popup if you search like this....When you find a place, go search on a competitors search engine, you will often find more pictures, a different description, better historical data, etc..