## STR PowWow
## Key Take-Aways
#### - Right Things
1.) More than one platform
2.) Full-Service Management
3.) Pay Attention to Reviews
#### - Wrong Things
1.) Not doing due diligence
2.) Self-managing if want to be passive
3.) Not checking regulations

### Pros
1) More Money vs Long-term
2) Can be passive
3) Low Eviction Rate
4) Direct Booking Opportunities
5) Tax Advantage
Tax (100 hours) More than cleaning
6) Owner Stays
### Cons
1) Hospitality Business - Reviews make or break
2) Based on the Location
3) A lot of work when self-managed
4) Higher risk due to travel economy
5) Regulations
6) Competitive
### Location
- STATs
- Due Diligence
### Rules Regulations: Most Important
- Insurance
- State Specific
-Taxes
-Business License
### Seasonality
- Location Specific
- Peak & Non-Peak
- A Part of the Strategy
- Pricing Considerations
### Management
- Industry Knowledge
- Full-Service allows for passive income w/ min time investment
- Crew/Inventory Management & Setup
### Automation
- Hospitality
- Messaging
- Schedule
- Inventory
- Task Management