A single member LLC can be cheap to set up - a few hundred bucks between state registrations and a legal zoom operating agreement. 

New investors can go at there own pace, build relationships, and get better deals on materials and labor. 

Cash flow takes good vision and great "hunting" for the deal, but it's certainly possible.  

If a crappy area, I would not try to STR it, since you will likely be getting people who want a CHEAP place to stay.  

I was actually looking for some deals in Hagerstown myself.

@Mary Ciccarelli If the property is a good DEAL it's worth the effort.

I'm particularly passionate about off market deals and adding short term rentals to our portfolio. 

Market Value of the property: For example, I convinced a FSBO to sell his property for $300,000 with the contract being assignable and I go under contractThen, I find a real estate agent, tell them that I have a deal and I'm offering 33% of my assignment fee which is 30k so the agent would be getting $10,000.

Lastly, price point is still super cheap - you can find deals for under $200k!

What made you interested in investing in this type of deal?