And although Im super hesitant to use this figure in my purchase decision, my realtor comp-ed them out at 750k ARV.Last Years Actual Rent Paid: 62,777 Last Years Gross Rent Billed: 109680 Pro Forma Rent: 110,000 - 140,000 based on minor improvements/cleanup and then rent increases/tenant removalPITI: 5500/month. (66000) P 1600 + I 1300 + T 2000 + I 400Expected Vacancy and unpaid: 15% (16500)Maintenance + Capital: 10% (11000)Net currently: -4000 Net Projected: 31,500Projected ConC: ~100% with 25k down and 6500 closing costs.Thank you for taking the time to look at these numbers.

While the above concerns are legitimate, there are some popular but unfounded generalizations about undocumented persons that a landlord can safely exclude from his or her rental decisions.

But I just cant find numbers to justify a decision to invest in it. 

It was my biggest mistake in hindsight, but it was still a great decision. 

you don't have a hard decision making criteria.So run your numbers first, "dry".

The decisions they make regarding their finances is not necessarily optimized for a real estate investor, meaning you can get recklessly negligent HOAs who don't make necessary repairs (like in the Surfside Condo Greg mentioned) or who are over-zealous in repairing/replacing things that work just fine.

I will need to learn so much more before I can make one of those decisions though.I'll keep on listening, reading and learning. 

The more you can learn up front the better a decision you can make and the more comfortable you can be on the price you are offering.

Congrats on wanting to get started and I think that is a great decision!

With no experience in STRs yet, I’d say give yourself the best chance to win by ensuring you have enough capital to buy and invest in a property that guests will want to pay you more than everyone else for because of those decisions you made on timing and acquisition.my two cents!