New here and looking for advice

Atlanta · Member since 2022 · 708 posts · 639 votes

10mo

first, welcome to the board.

I could be wrong, but i would guess more than 50% on the board manage properties from a distance. I personally manage properties 5+ hours away. Now the board generally isnt too fond of arbitrage. I am also surprised in today's day, that a profit can be made unless you find an owner who has no idea what they have and give you a very low price for rent. That to me is one of the harder points, getting them to allow you to bring in multiple renters. And the initial cost outlay is on par with what an owner would have to do. You have to get STR insurance, completely furnish the place, pay all the utilities, etc. And you are at the whim of an owner that could decide at any point they no longer want to do it.

Now you may be able to get a 1-yr contract so that you dont lose it in a month. But hard to rely on a business that could end in less than a year. As for co-hosting, that is hard to start brand new also, as you have no track record to bring to an existing owner, you are learning on the job. I'm in a hosting group and the group, and all of us own at least 1. It gives credibility to your clients, you know exactly what they are going through. It isnt a requirement, but it definitely helps.

I would definitely start by identifying a market you want to be in. But you need to jumpstart your education, so finding someone that you can shadow with, do grunt work, anything to learn more, would be the first ideal step.

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Casey Hall
OP
Member since 2025 · 9 posts · 4 votes
10mo
@Trent Reeve thank you so much for your insight. I'm honestly not big on the idea of arbitrage and like I said only considered to show myself I can manage. You have any other advice for getting started? Thanks again
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Andrew SteffensBusiness Member

Tampa, FL · Member since 2022 · 3k+ posts · 3k+ votes

10mo

Hi Casey,

If you have been following the board for sometime (or if you search arbitrage on this forum) you see 99% of people on here are against it, and for many a good reason. Co-hosting is essentially another word for a form of property management, so you will want to check with your state first on the laws regarding that. Also many markets are quite saturated with managers/co-hosts, how are you going to compete and differentiate yourself? the easiest and best way to get into the market is by being an owner. Then self manage and do it well, and then offer services to other owners. I know capital can be a barrier to entry, but you can always raise capital and find partners to get your start. Best of luck!

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Ben Tutewohl

Investor · Madison, WI · Member since 2023 · 21 posts · 32 votes

10mo

Hi Casey,

I wouldn’t worry too much about your market being a few hours away. A little distance can actually be healthy, it keeps you from getting sucked into doing all the $15/hour tasks yourself.

Starting without experience will make marketing your services tougher, but not impossible. I’d just be cautious about jumping straight into arbitrage as your first step. It puts all the risk on you if things don’t go as planned, and it’s an expensive way to “learn.”

A better entry point is usually co-hosting. Charge less than competitors, build genuine relationships with owners, and focus on the essentials: guest communication, calendar management, coordinating cleaners, etc. That gives you hands-on experience with the actual operations of STRs without taking on a lease or furnishing costs.

Once you’ve co-hosted a couple properties, you’ll have a much clearer sense of whether you want to scale co-hosting, pursue arbitrage, or raise capital/save for your own deals. The education and confidence you get from operating real listings will put you in a much stronger position.

In short: get operational reps first, avoid unnecessary risk early on, and I would avoid arbitrage at first until later on once you know the business inside and out. Even then I wouldn't recommend it, but at least you will have a better idea of what you are getting yourself into.

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Casey Hall
OP
Member since 2025 · 9 posts · 4 votes
10mo
@Ben Tutewohl thanks, how do you think I'd break into co-hosting without any experience?
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Andrew Street

Member since 2019 · 1k+ posts · 292 votes

10mo

Welcome! It sounds like you’re doing all the right homework before jumping in, which already puts you ahead.

Managing a place a few hours away is definitely doable as long as you build a strong local team—your cleaner and handyman matter more than your proximity. On the arbitrage side, many people here are cautious about it, and I tend to agree. The upfront costs, lease risk, and thin margins can make it a tougher starting point, especially in today’s market. Owning gives you equity, control, and long-term stability, even if the buy-in is higher.

When choosing a market, focus on regulation stability, consistent demand, and reliable local support. If a spot three hours away checks those boxes and the numbers make sense, distance alone shouldn’t stop you.

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Casey Hall
OP
Member since 2025 · 9 posts · 4 votes
10mo
@Andrew Street thank you so much i appreciate it. My problem is if im going to buy a place it'll end up much further away because i have no desire to own anything in the markets around me including the 3 hours away. Do you feel like that matters? I know obviously I should go where the money is but I feel like if I'm going to spend money buying than I'd rather start out places we like to go.
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JD MartinBusiness Member
Moderator
Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
10mo
Quote from @Casey Hall:

@Andrew Street thank you so much i appreciate it. My problem is if im going to buy a place it'll end up much further away because i have no desire to own anything in the markets around me including the 3 hours away. Do you feel like that matters? I know obviously I should go where the money is but I feel like if I'm going to spend money buying than I'd rather start out places we like to go.

Your last sentence virtually guarantees you will not make any money in STR, at least to start. If you intend on using the property then you can virtually forget about it turning any kind of profit, and you'll be lucky if it breaks even.
Running a short term rental is being in the hospitality business, essentially. If you let someone else manage it, then it becomes a little closer to owning a regular rental property. My advice: find a regular long-term rental property in your area, or somewhere you can reasonably access, and self-manage that first. You'll get a feel for dealing with real estate without the cash flow risks of STRs, and if you buy it right you'll at least have a couple of possible exit routes if you decide it's not for you. I can tell you my long-term rentals make more money overall and are less hassle than my STR.
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Casey Hall
OP
Member since 2025 · 9 posts · 4 votes
10mo
@JD Martin

Thanks for the insight — and to clarify, I wouldn’t be buying a property for personal use. The types of properties I’d target for STR wouldn’t even be big enough for my family, so it truly would be an investment first.

What I meant is that if I ever decide to buy, I’d prefer it to be in a market where I can meet the team and inspect systems once or twice a year, rather than buying in a location that’s a great STR market but a weak overall real estate market if I ever choose to sell.

And I do currently own a long-term rental, so I’m familiar with tenant issues, maintenance, and the fundamentals of owning and operating investment property. STR would be an additional lane, not my first exposure to real estate.
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Trent Reeve
Atlanta · Member since 2022 · 708 posts · 639 votes
10mo
Quote from @Casey Hall:

@JD Martin

Thanks for the insight — and to clarify, I wouldn't be buying a property for personal use. The types of properties I'd target for STR wouldn't even be big enough for my family, so it truly would be an investment first.

What I meant is that if I ever decide to buy, I'd prefer it to be in a market where I can meet the team and inspect systems once or twice a year, rather than buying in a location that's a great STR market but a weak overall real estate market if I ever choose to sell.

And I do currently own a long-term rental, so I'm familiar with tenant issues, maintenance, and the fundamentals of owning and operating investment property. STR would be an additional lane, not my first exposure to real estate.

personally to me, even if you buy something on the other side of the country, you should visit it a couple of times a year to do exactly what you said. inspect it, visit it like a guest and see what they see, meet with your local team.
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Jules Aton
MD/DC · Member since 2024 · 1k+ posts · 1k+ votes
10mo
Quote from @Trent Reeve:

Quote from @Casey Hall:

@JD Martin

Thanks for the insight — and to clarify, I wouldn't be buying a property for personal use. The types of properties I'd target for STR wouldn't even be big enough for my family, so it truly would be an investment first.

What I meant is that if I ever decide to buy, I'd prefer it to be in a market where I can meet the team and inspect systems once or twice a year, rather than buying in a location that's a great STR market but a weak overall real estate market if I ever choose to sell.

And I do currently own a long-term rental, so I'm familiar with tenant issues, maintenance, and the fundamentals of owning and operating investment property. STR would be an additional lane, not my first exposure to real estate.

personally to me, even if you buy something on the other side of the country, you should visit it a couple of times a year to do exactly what you said. inspect it, visit it like a guest and see what they see, meet with your local team.

Agree and also just because a majority of people on BP may own long distance properties doesn't mean it is the ideal model especially for new investors or those on a limited budget. Personally I find a fair amount of what I read in the general section questionable although this STR section has been extremely helpful based on the quality and experience of regular posters.
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Casey Hall

OP

Member since 2025 · 9 posts · 4 votes

10mo

That makes complete sense, and that’s exactly how I’d approach it. Even if I bought out of state, I’d still plan on visiting once or twice a year to do a full walkthrough, look at the property from a guest’s perspective, and check in with the cleaner/vendor team. I’m a big believer in remote operations, but I also think nothing replaces putting eyes on the property every so often — especially with an STR where condition really matters. Appreciate your input — very helpful hearing how others handle the remote piece.

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Collin HaysBusiness Member

Property Manager · Gatlinburg, TN · Member since 2020 · 3k+ posts · 4k+ votes

10mo

My advice is to get into the STR world by finding something fairly close to you that you can keep an eye on and manage yourself. I own a property management company in the Gatlinburg area, and almost all of our homeowner clients live far away, making self-management a difficult proposition.

[email protected]806-672-7102

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Casey Hall
OP
Member since 2025 · 9 posts · 4 votes
10mo
@Collin Hays

Thanks for the advice — I totally get what you’re saying.

The only tricky part for me is there really isn’t a solid STR market close to where I live. So doing something nearby just isn’t realistic, and I’m not looking to buy a place just to learn and risk losing money.

That’s why I’ve been looking a bit further out and exploring arbitrage or co-hosting in stronger markets. Just trying to find the smartest way to get my foot in the door.

Appreciate you sharing your take on it.
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JD MartinBusiness Member
Moderator
Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
10mo
Quote from @Casey Hall:

@Collin Hays

Thanks for the advice — I totally get what you’re saying.

The only tricky part for me is there really isn't a solid STR market close to where I live. So doing something nearby just isn't realistic, and I'm not looking to buy a place just to learn and risk losing money.

That’s why I’ve been looking a bit further out and exploring arbitrage or co-hosting in stronger markets. Just trying to find the smartest way to get my foot in the door.

Appreciate you sharing your take on it.

Where do you live? Seems unlikely there's not something good there.
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Casey Hall
OP
Member since 2025 · 9 posts · 4 votes
10mo
@JD Martin Ashland KY
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Kerlous TadresBusiness Member

Realtor · Columbus, OH · Member since 2023 · 1k+ posts · 1k+ votes

10mo

I’d say distance isn’t a deal breaker, but you’ll need strong systems and a reliable local cleaner or handyman. If you’re brand new, co-hosting can be an easier, lower-risk way to learn before jumping into arbitrage. No matter what route you take, make sure the market has solid demand, friendly regulations, and enough revenue to give you a margin.

[email protected]614-490-1163

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Casey Hall
OP
Member since 2025 · 9 posts · 4 votes
10mo
@Kerlous Tadres

Thanks, I appreciate the advice.

One thing I’ve been wondering is—how do you actually get trusted as a co-host when you’re brand new?

I’ve got solid communication skills and I’m good with systems, but I’m not sure what the first step is. Do most people shadow another host, offer a discounted first client, or just build out some solid processes and go for it?

Any tips would really help.
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Kerlous TadresBusiness Member
Realtor · Columbus, OH · Member since 2023 · 1k+ posts · 1k+ votes
10mo
Quote from @Casey Hall:

@Kerlous Tadres

Thanks, I appreciate the advice.

One thing I’ve been wondering is—how do you actually get trusted as a co-host when you’re brand new?

I’ve got solid communication skills and I’m good with systems, but I’m not sure what the first step is. Do most people shadow another host, offer a discounted first client, or just build out some solid processes and go for it?

Any tips would really help.
I’d recommend getting one solid win first. Offer a discounted first client in exchange for a testimonial and permission to use the results in your pitch. Keep communication tight, be proactive, and document everything so you come across as organized and reliable. Once you have that one case study, the next client comes a lot easier.
[email protected]614-490-1163
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Rosston Smith

Investor · Warner Robins, GA · Member since 2015 · 1k+ posts · 490 votes

10mo

Quote from @Casey Hall:

Hey everyone, I’m new to the STR space and have been studying it pretty consistently since August. I’m really interested in building a short-term rental business and I’m trying to choose the smartest first step. Right now I’m leaning toward starting with an arbitrage unit just to dip my toes in, get hands-on experience, and prove to myself that I can run a successful listing. My biggest hesitation is that my closest profitable markets are about 3 hours away from where I live, so I’m figuring out whether that distance is going to make things harder than they need to be for a first deal. I’m here to learn, connect, and get advice from people who have been through this stage. If anyone has experience with: • managing a unit several hours away • starting with arbitrage vs. co-hosting • picking the right first market I’d love to hear your perspective. Looking forward to being part of the community and learning from you all. Thanks!

Starting with an arbitrage is fine as long as you can afford to pay the rent without any reservations in an emergency scenario. I don't recommend scaling that model, but it certainly helps you gain experience starting out.

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