I think establishing these relationships not only will help you learn but will begin the networking phase that could lead to a mentor or partnership.

This establishes a solid, defensible baseline income that the lender can easily underwrite.

When it was ready, I leased it to an established recovery housing operator on a 15-year net lease with a few 5-year extensions built in.The operator took over management, kept the home full, and paid steady rent every month.

How can someone be in the STR business for the long haul and NOT do everything possible to establish a business model where they’re almost exclusively direct to customer of through low fee platforms?  

I also doubt there's any "established" neighborhood in the country where a parcel can be purchased for $10K.

By proactively planning how your investments are taxed, you can significantly reduce your overall tax burden and position yourself for greater financial flexibility.Equally important is establishing a strong asset protection plan.

I understand that these parameters are largely dependent on everyone's situation, so here's more context: - I live in California and am planning to buy my first rental property outside of California (I'm planning to do buy and hold) - I was initially considering establishing an LLC in order to protect my personal assets, but I realized via other threads (link) that doing so would cost me about $800 / year since I am a California resident, and the law requires me to establish the LLC in California.

You will probably have to buy into a more "up and coming" neighborhood on the fringe of neighborhoods that are more established or desirable.

At first I was looking at land for new build but most the pod cast from you guys seem there is more interest in properties that are already established.

They just raise the rent.A new occupancy permit will be needed to establish who the new residents are.