I want to ask this honestly because I feel like it doesn’t get talked about enough.Everyone hears the BRRRR strategy explained as:Buy, Rehab, Rent, Refinance = Repeat and the expectation especially for newer investors is that you’ll magically pull all your money back out at the refi.But in real life how often does that actually happen?

Some folks in this thread have already explained the complexities of STR.

He explained that he had placed all his investment capital in one loan, and he was afraid of being wiped out.  

TLDR: i did everything right once, applied for a permit > was approved > then starting renting as an STR > then 6 months letter I get an email that they approved that in error and I must cease all operations > I went to the "board" which was a joke and was still denied even when explaining this was their error and i invested quite a bit that I will now lose on.

I am still receiving quotes that explain Rental Type as "long term" and "secondary" or "seasonal".

The best way I can explain it is would you rather cash flow $200 today with a property that is $200k or breakeven today with a million dollar property local? 

. §1.469-1T(e)(3), which explains why rentals with average stays of 7 days or less are not automatically treated as passive rental activity.In your case, the Airbnb unit is analyzed separately from the long-term units.

Then add the other sources of RE return.So how do you explain going from an $846k valuation from appreciation alone (I encourage you to check my numbers and perform the google search using the terms I provided) to a total of $664k?  

When pitching corporate housing or MTR arbitrage, I’ve noticed landlords care most about:-Rent paid on time-Property protection-Low turnover-Professional tenantsThey care far less about how you make money.How do you explain the MTR model to landlords without scaring them off?

I explained to her that I've been in this business for 30 years and I know that Dec is slow but I still expect to know how many times the PM showed the property.