This high level guide should get you through most steps of setting up an STR here in San Antonio. 

Then they layer your rules on top - seasonality adjustments, last-minute discounts, minimum night stays.

With markets feeling more segmented lately, I’ve been rethinking how I anchor ARV during early deal analysis.
Instead of relying on a single comp or peak-sale comparison, I’ve been leaning toward:• ARV ranges (low / m...

A tenant set the kitchen on fire.

But if you're looking for a home within an hour of Phoenix, and you set your bar accordingly, you should be able to find something.

The idea of risk class adjustments and underestimating assumptions for older properties makes a lot of sense, and I hadn’t fully considered scenario pricing before.Seeing multiple price points to determine the maximum safe offer is a great framework for avoiding guesswork, and it really highlights how much thought goes into small multifamily underwriting.

It makes sense to set up a new LLC for every million of equity or so$5 to $10 million in equity: time to start think about basic asset protection strategiesOver $10 million in equity: maybe consider some more advanced legal constructsI know several people with large portfolios, between several hundred and one has almost 5000 units and they all run pretty basic entity structures.

If the deal only works because of them, it’s probably not a deal.Where I’ve seen investors make it work in similar markets is: modest rehab to reset rents, slightly higher down payments to stabilize cash flow, or pairing cash flow with a longer-term equity story instead of forcing both aggressively on day one.If anything, you may just need to adjust expectations on where the return shows up early (steady but modest cash flow + risk-adjusted stability), rather than loosening your math.Happy to compare notes or walk through a deal if you want a second set of eyes

Winter isn’t the season to gamble with rent numbers — it’s the season to stay competitive and avoid costly downtime.If anyone’s dealing with a winter turn right now and wants a second set of eyes on pricing or comps, happy to help.

I can't find any tutorials on Xero without having to first set up an account.