You make $10k from STR, you have to come up with $22k out of your pocket, not to mention the upfront $100k down payment and possibly another $20k to furnish the house unless you bought it as an existing STR.So in summary, in today's market, it's impossible to buy a STR and be a passive owner and still make enough profit to cover your mortgage payment. 

I'm going to let you in on a little secret called zoning. go read your zoning codes on where allows multifamily and then rezone to it or find those plots of land. super simple. you make it sound like it's impossible yet I'm sure there are apartments being built  Are you serious?

And I'll be out of the game from April to about August at least.There is new trend in 2023 where there is no more strong seasonality with very illiquid market, new home listing in dec and June has 50 percent gap.about to say waiting for equity chance in my local market is almost impossible while liquid/illiquid debt could produce 8-12%IRR.i would see what end of 2025 gives but it seems there may be more chances in CRE in 2025….

It is going to be near impossible to cash flow on a property with 100% financing, especially if that partners rates are above conventional rates.

This makes it impossible to pull ALL cash out and REPEAT with my initial capital as they want some "skin in the game".Am I talking to the wrong people or was I under the wrong impression that BRRRR's involve all cash out based on solely 75% or 80% ARV?

Ok so its harder but not impossible to get good tenants.

This was a no-brainer and has a payback of about 3 or so years (probably less with how my tenants use the AC in the summer) plus again, it'll help sell the property down the road.I really wanted to separate the water as I found a few good sub-meter companies but the water lines go every which way and make it impossible to attach a meter to one.

@Sandip Hirpara While it is tough to materially participate in an STR 5 hours away, it is not impossible.

Maybe a tax reduction could work on someone's primary, sure, but on all residential or commercial properties seems impossible to me.

The Landlord Locks keys or other similar locksets are near impossible to get duplicated (typical hardware store can't/won't duplicate) so if they need more keys, they have to come to you.