Hi David, If building long-term equity and scaling quickly are priorities, then option 2 aligns better for you. 

Also, research other areas where you can invest as a private money lender (fix and flip is just one option)... 

As you indicated you have plenty of options to start.

And, perhaps most importantly, make sure you have access to flexible financing options that can help you adapt to new market conditions.

The asset was sold a couple years later and the operator gave all investors the option to exchange into a new acquisition or liquidate.

Alot of unknowns as you don't have the ability to walk the property beforehand, but interesting process, and pretty good deals exist there.While the Trustee Sales are cash purchases, there are many hard money options that can turn over the funds in time for the 24 hour funding required to complete the purchase.If you are interested, let me know and I can go into more detail, as well as make some other suggestions for you to consider. 

There are just too many options available to go directly to the supplier!

These solutions can make a huge difference, and the long-term option will really help set your STR up for success.

.- Optional Benefit: If you believe an elevation certificate shows your property is at a lower risk than FEMA's assessment, you can submit one to potentially lower your premium.

That's how I would propose it as an option next time.