NOI x CAP RATE = purchase price Simple example: $100,000 x 9 = $900,000You can then use pro forma numbers say after you raise rents, fill vacancies etc to project future value if you wanted to sell later on. new NOI x higher cap rate$130,000 x 10 = $1,300,000$130,000 x 11 = $1,430,000and so on.

My question is more related to the future, and will there become a point in time like the overseas prince scams where hopefully this is talked about enough for people not to get scammed like this

It's not a perfect system, but past behavior is a great indicator of future behavior. 

Pursue legal action against the county and risk future cooperation from them?

What do I need to do differently in regard to screening, writing up a lease, and actual management of this property? 

Investing in professional photography and writing a clear, detailed description that highlights the unique features of your property can significantly increase your visibility and booking rate.5.

But again, the problem is finding someone to write liability insurance for an STR property manager right now.

Hey BP,
Back after taking a brief three year hiatus from real estate.
Started back in 2013 with a house-hack. Built a portfolio of 13 doors i over the course of 6 years while working a W2 before selling everything i...

Cash flow is one way RE makes money.

There are strategies that you could do to try to get future paper losses reducing your active income, but those require you to change your income-earning activities.