Short Term Rental - Non Negotiables when purchasing an STR Prope

[Tyler Solomon]

What are your non negotiables when underwriting a potential deal? Obviously positive ROI is an easy one, I am more so asking about your non-negotiables as they relate to the physical structure you are buying.

Anything from property age, property type, square footage, permitted or non permitted, location, foundation, etc....

Thanks for the feedback!

[John Underwood]

Quote from @Mj Kim:

Quote from @John Underwood:

Location!

No HOA, no condos, nothing I wouldn't want to vacation at myself.

 Newbie here. Why do you stay away from condos? I've read on another post that somebody found great success in it but see a couple of posts here that you guys stay away from them? 

You are at the .mercy of the HOA.

Fees will eat into your profits.

They are too much like a hotel for me.

SFR will almost always outperform a condo.