Most (including us) are going to have a lower-end limit of $100K.

Hey @Dan Russell ,Did your client ever end up using any of the property management companies that were recommended?  

It also has STR capabilities that I have never used but I am sure is good.

#1 Never stop educate yourself

You could also try to contact the seller directly and even make them a back-up offer if their contract with the wholesaler is ending and then buy it directly from the seller. 

Thanks @Michael Plaks :If brought condo for STR purpose, almost end of the year say in Nov, also purchased all furnitures etc to make it ready for STR. what if it didn't get rented by end of the year, so :Total rented days in year = 0 Toal personl days stay at property  = 0 Does it still qualify for deductions(cost seggrigation, tax, closing cost etc for business use prep), similar to if it was rented (even if for couple days in a year) ?

I’ve never heard of such a nightmare.

There may be some quick periods of no cash flow, but that should be made up at the end of the rehab... meaning make up for the loss of cash flow used for the rehab + regular cash flow, not back to neutral cash flow.

I have an STR in Wilmington and am thinking of expanding to an oceanfront 1 bedroom condo in Carolina Beach (south end).

It's hard for anyone to give advice on such a personal decision, but I'm almost always in the position of never selling.