I'm local as well and start my investing career in Everett.Wholesaling is a competitive business and can be quite rewarding.

By educating yourself on the risks and rewards of real estate investing, you can make informed decisions that minimize your risks while maximizing your returns.Myth: I need to put 20% down on my house to avoid PMI.Many people believe that they need to put down 20% on a home to avoid private mortgage insurance (PMI), but this is simply not true.

I would read the following:1) Any of the books that Dave Reynolds and myself have written (OK, that was obvious).2) Sam Zell's book "Am I Being Too Subtle" not for the MH component (only about 4 pages although he's the largest owner of mobile home parks in the U.S.) but because it has excellent discussions on the concept of risk vs. reward which applies well to mobile home parks.3) "The Man Who Bought the Waldorf" which is one of the greatest real estate books of all time and tells the story of Conrad Hilton and how he built a fortune, lost everything in the Depression, and then bought it all back for a penny on the dollar later when everyone else would have just jumped off a bridge.

It’s really a matter of risk and reward, sure, there is risk, you have hurricanes, in fact, Wilmington North Carolina got hit with one last September and we lost two months of the tourist season.

I am eager to understand:The nuances of different neighborhoods and their respective investment potentialsThe challenges and rewards you've encountered in this marketYour experiences with local teams (agents, property managers, contractors, etc.) you've worked withAny key lessons learned and strategies that have worked well for youI would also greatly appreciate insights on potential pitfalls or critical issues I should be aware of as I consider investing in this market.My ultimate aim is to make an informed decision and hopefully start a rewarding journey in real estate investing.

If you ignore basic business principles such as risk adjusted reward, then on a shallow level it may seem so. 

I would charge at the high end of normal LTR rents, then 30 to 40% of profits.After all owner has the prized STR property and is taking the risk if things go south. 

@Russell Brazil sounds like you're talking risk vs reward.

Some of these are actual physical items that require going to the property.Owning remotely with a great property manager is fine and rewarding!

That is not to say there are tremendous rewards for purchasing land if you definitely know what you are doing.