There’s a ton of new construction 3-flats hitting the market, and when supply jumps that quickly, rents flatten because tenants have options.

Unless you have a perfectly flat floor, the floating floor is going to flex as people walk on it, put furniture on it, etc, and the worse true your floor is the better that locking system has to be to keep the planks from coming apart.

With all capital supplied, Vance was able to focus solely on managing the project.

For now I know I can keep up my mailing efforts and just look for others areas that have a demand and no supply... but the further the market the harder to identify its needs without being able to drive through somewhat often..

Large-scale renovations often come with surprises—contractor coordination, supply delays, and uncovering unforeseen issues during construction.

You're going to run into this in most of the major STR markets because within the last 2 years we have seen a massive spike in available inventory.In order to compete with the competition now, hosts/owners/operators need to step up their game and be willing to invest in good quality furniture, memory foam mattresses, high quality linens, professional seasonal photography, etc.In the high desert, most visitors are looking for peace, quiet, privacy, and amazing scenery so this means stay away from purchasing homes in residential neighborhoods with neighbors on all sides.

As populace grows, so does the money supply need to grow. 

@Matthew HollandsworrhYou’re definitely on the right track by targeting Northeast OH — lots of investors operate there and good contractors are always in short supply.

It's important to note, there are two big economic factors that contribute to declining rents (supply & demand).

@Gin Zhuang The Ciy of Flint, Michigan had a major issue with lead pipes a few years ago that scared a lot of people.What people fail to realize is that MANY homes in this country, built before 1950 have lead pipes from the city supply and may have internal lead pipes.