I very much like the idea of discussing annual increases at the initial move in.

Initially to be my home, but after tipping my toe in the BP world, my mindset has shifted.

I think the biggest challenge with STRs is the initial setup and development of systems. 10-15 hours a week is more than enough time to manage your STR once you have all your systems in place (think cleaners, guest messages, house turnover, pricing management, etc).

I think the simplest way to look at long term rentals is each one hopefully initially yielding about $300/door/month in profit (before taxes and capital improvement expenses.). 

Anything of value is worth doing poorly initially until you know better. 

The main thing is to get it customized correctly for your portfolio and get some initial guidance on it.

Now, my question to everyone is, how do you go about this so that we don't have to use our own funds at all on the initial closing, but instead can use our PML's fund right from the start and offer them security (currently a recorded mortgage at closing) all while appeasing the main lender (HML) and not holding up closing? 

Often - our investors find acquisitions just outside their initial immediate target city or town.- Win the offer.

Definitely am with the other people that renting is better initially, especially in Killeen lol.

i also had a initial call but not sure due to their hefty fee, moreover i need something for this year to offset some income, so want to get some feedback. thanksDepending on the market you’re interested in, you may be able to find a property with a trusted realtor who specializes in STR.