Selling investment property starting over

[Eugene DuShawn Smith]

Hello to everyone in the crazy world of real estate! So I'm currently doing rehab on my out of state investment property for a second time only this time I'm selling it. After living in the property for 2 years then long term leasing it for 4 years between 2 different tenants the amount of money we put into this townhouse from tenants treating it like trash is getting too expensive. I've had to use business capital in order to do repairs on multiple occasions because we no longer have reserves. I'm done long term renting, at least for the time being. My question is this; what would be the best strategy to start over after selling the property? After closing I should make at least 100k on the deal, in which that amount I would like to pay off some debt mainly debt that it took to make repairs at the property which should leave me with about 47k, a really good credit score, and descent DTI ratio. I would like to get into short term rentals only this time in my backyard of Jacksonville FL. I want to be able to go close a deal and still have reserves for repairs and or funiture to airbnb the property. I also would like to know if I should purchase a property under my existing property management LLC the way I did with the current townhouse or is there a better strategy to get a lower down payment, Keeping in mind that i already currently have a conventional loan on my current primary here in Jacksonville as well. I hope this is enough detail for suggestions.

[Drew Sygit]

@Eugene DuShawn Smith you lived in the property and then rented it twice and both tenants trashed it?

If you lived in the property, going to guess it was Class A or B and NOT C or D.

If the rental was Class A or B and TWO different tenants trashed it, what do you think the problem is?

Assuming your rental is Class A or B, then there can only be 3 logical problems:

1) Something weird about the property that only attracts problem tenants.

2) Statistically, "bad luck". So, your next tenant should be awesome.

3) Terrible tenant screening!
- This is the most likely problem.

Unless YOU find a way to solve the tenant screening problem, doesn't matter where or what you buy, you're still likely to have the same results.

So, who's screening your tenants and what is the specific screening process?