New-ish investor looking for advice

[Richard White]

Hello, all. My wife and I have owned 4 STR's since 2017, and downsized to 2 in 2021. My W2 job was going well for the past few years, but recently have been large gaps in steady work. I'm looking to branch out our investing portfolio while also being able to move away from the W2 income, but I'm not sure if we should stick to STRs, or move into LTRs or other. We have access to personal capital through equity and recently offered on a boutique motel that we were going to manage initially, but couldn't come to agreement with the sellers.

I'm not looking for "get rich quick", but rather pursuing an area to allow livable income now while investing for the future. I've looked into motels, RV parks, mobile home investing, etc. I have no experience with flips or BRRRs and don't want to use all my equity for low cash flow right now either. Any advice would be more than welcomed as to areas to investigate.

Thanks so much for any thoughts and looking forward to learning from the BP community!