The only issue is that there is tourist fueled (single economy factor) appreciation, and organic multi-faceted appreciation.

We try to keep a high level pulse on the entire market - a 360+ mile stretch of coastline in which total market activity can equal a single medium metropolitan market in other areas. 

STR nights per yearHow loss-of-income is defined under the policyWhether your umbrella policy explicitly allows STR activityAny claims filed, and how the experience (including renewal) went• If you considered a dedicated STR policy but decided against it, what factors drove that decision?

In fact, the buyer representation agreement we signed with our agent stated this explicitly and advised us to contact a real estate attorney for advice on contract language.

In my market, I can see these places pulling 100-120k gross if done very well.Build: $$675k-900k+ all-in for a brand-new STR explicitly designed to maximize ADR and occupancy.

I do think Multifamily certainly has advantages over single family, but single family has advantages as well.

Mostly because your tax return does not explicitly report your land allocation.

About 90% of inbound texts are ignored; we only engage with sellers who explicitly show interest (e.g., “yes, I’d sell” or they provide a price point).Team Structure: Lean and EffectiveInstead of managing massive teams like in years past, I’ve consolidated operations into a small, specialized structure:1 VA Lead Manager / Marketing SpecialistSends all outbound texts (10K/day).Qualifies inbound leads.Acts as appointment setter assists with transactions coordination.Maintains thousands of leads in CRM follow-up. 

A lot of tenants assume it’s expensive, when in reality it can cost only a couple hundred dollars per year.If renters insurance is explicitly required in the lease and the tenant refuses to obtain it, they are in violation of the agreement, and you’re within your rights to serve a notice to cure or quit.Even if a tenant provides a declaration page, they could cancel the policy the next day.

Sometimes it doesn’t come up early, but it can surface later in underwriting or after closing, which is where people get surprised.If you’re comparing options, I’d make sure any lender that says they allow it is explicitly okay with non-arm’s-length tenants and has seen that plan before.