@Jay Hinrichs, with hope to close Q1 2026, what factors play into your willingness (or not) for any type of price drop to get a deal done in desired timeframe? 

So scale seems to be the factor here.

Environmental factors, such as flooding vulnerabilities, necessitate investments in resilient properties, adding to upfront costs.

Think parts of the Midwest and Southeast.The biggest factors that make deals work right now are:Buying deeply discounted properties where the rehab forces real appreciationKeeping rehab budgets tight and intentionalRefinancing with solid DSCR terms (lower rates, 75%–80% LTV, and good DSCR coverage)They’re not common, but they do exist if you’re patient and run strict numbers.Looking forward to seeing your progress!

Anyone operating in Central Valley B-markets — any nuances around tenants, maintenance, or rental stability I should factor in?

Property management will probably be a lot higher as well when you factor in lease-up fees, delivering notices, etc.

Any new shiny object like “motivated seller leads, website, AI tools for $100 a month are a distraction from your the actual factor if the owner will decide to work with you vs others.

My biggest factors are 1.

My recommendation would be to put a little time and effort into jazzing up the hot tub area and do a lifestyle photo shoot with some people in the hot tub with drinks, and run that as the cover photo. 

These are the exact areas I dig into as well, because they quickly reveal whether someone can realistically meet the participation requirements that drive STR tax benefits.Understanding W-2 demands, average stay length, hands-on involvement, and the dynamics with a property manager tells you almost everything about how the STR will perform and how the tax strategy should be structured.Most investors underestimate how much these factors impact both their numbers and their ability to use the losses.