Steve, you can likely overcome the work requirement because of your current role and experience.

However I believe that STRs can play a vital role in someones FI journey who is at the point in their journey that they are willing to put in the extra hours and reap the extra cash flow to then put it into a LTR.

@Seth Holmen thank you and that’s understandable, I actually wanted to switch my major into architecture because I know it would help with not just the design stages but also being able to oversee the entire building process from permits to project management. but I felt like the time it would take to complete school, and how much student loan debt that would be, made me consider drafting as more of a faster way to enter the work field to work under someone to get the experience but The role of an Architect has always fascinated me.

It’s a bit of a vicious cycle bc tons of LTR investors searching for yield have pivoted to STRs and are happy to take ~10% COC returns since that beats what they can find today with LTRs … problem is STRs are much riskier/ more volatile, so in theory investors should demand a higher yield than this to hold these assets (but most folks aren’t thinking in this much depth).

Understand what role each person plays, who has authority to make decisions, how to exit if things change, etc.

William We pivoted to self-storage a few years ago.

Problem: How do you insert a calculated ROW into a pivot table in Google sheets?

Some even claim that Uranus might have played a role in previous historical revolutions. 

It should include; how you purchased the property, what type is it, what is the plan (flip, rent), etc, all the financials (purchase, rehab, who is doing the work, interest rate on money borrowed, how much are you putting in the deal, what is your role, how are the investors funds protected, property taxes, insurance, utilities, rent projected if a rental, refinance charge and cash flow, etc.I provide them a 3-4 page document explaining everything.  

@Max T. so one of the things I never fully understood with PHA rent determination is the role of what the tenant can afford.