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Is it easy? Sure. Do you get all of the benefits of being an owner? Not even close.
With the increase in STR supply in pretty much every market, hitting projected occupancy rates will be very difficult for the next year or three. Many STR owners are selling due to saturation. When you sign a lease to arbitrage, you’re responsible for the base rent regardless of cost of furnishings, occupancy rating, or other details. You’re signing up for all of the obligation with speculation for upside. Can it work out in the green? Sure. Can it also end up in the red? Most definitely.
As an owner, you get the tax benefits of depreciation and capital gains taxes that skew in the favor of long term growth. As a leasee, you get far fewer benefits.