Ask the manager to explain their process for dealing with maintenance, late rent, evictions, turnover, etc.

One of the benefits of new builds is that they tend to attract tenants who are looking for a fresh start and a place to settle down, which can help reduce the kind of headaches you’re dealing with now.If you’re ever considering expanding your portfolio or want to explore other opportunities in Indy, feel free to reach out.

If you cash out refinance you incur (more or less) all the lending fees associated with a financed property purchase (even though you are just refinancing the property you already own), and then you incur significant fees when you sell the property (closing costs, commissions, etc).  

I own multiple properties in the Caribbean and not a stranger to foreign deals and owning foreign assets.

With that being said, you can build a successful STR if you win on two fronts (to simplify it)The real estate side and the hospitality side (operations).The real estate side is buying a very good deal in a market that has a history of vacation rentals in my opinion. 

If not, how do people typically get started with their first deal?

Anyone can create a website and find a few students with killer deals to showcase but the question you asked is it worth the investment. 

Some deals I close after 20 hours of work and some deals I close after 200 hours of work. 

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

I see them as huge opportunities but not talked about a lot.Well REO's have gone down to to lower foreclosure rates. drawbacks are banks are very low and non responsive, unless its not a traditional bank and a private lender then you could possibly get a better deal.