@Lloyd SilverAs a resident of both San Francisco and Grand Rapids I can tell you the same things that attracted out of state and international investors to Grand Rapids remains unchanged.

You really want to get a feel for this person, if you like them, if you'd trust them to remain accountable if the deal goes south -- be super picky and make sure they have both experience and internal qualities that you want in a "partner".

Comparable study - an internal or external report of recent (market dependent timing) of project sales and land sales.

Most of my donations go to my church, pregnancy resource center, YoungLife, Compassion International, Tebow Foundation, and then some non-religious organizations like Downrange Warriors, local sports or 4H, etc. 

I definitely enjoy connecting and seeing if we can fit together.I specialize in being keen eyes 'n ears for those out of state or international investors for prepurchase inspections.

Hey Matt,You make a very valid point with the internal rate of return.

Is it really worth a investing here or should I perhaps rather shoot for investing internationally, even though I am completely new to the real estate game and have absolutely no experience?

We didn't make money but we didn't do STR  it was more interns and people moving to the area for a few months. 

I would be looking into areas that are still growing like the international drive area which is really close to most of the attractions and flooded with out of state tourists.

Hopefully this helps but I think the first step is just some internal thought / discussion on what your goals / needs are!