Critique My STR Project

[Kai Van Leuven]

I am looking at doing my first STR project. I have been a LTR landlord for 16 years but wanted to try my hand at STR. I am looking for a critical critique of my plan and what you would do differently. Any feedback is greatly appreciated;

Property in Long Beach WA;

Structures:

5 Residential units: 2 duplex's and a small home 

-Duplex 1: 2 bedroom 1 bath

-Duplex 2: 1 bedroom 1 bath

-Small house: 1 bedroom 1 bath

18 RV Spaces 

-25'-50' long spaces

-(13) 50 amps and (5) 30amps

AirDNA Stats: (was really disappointed with the report, the free stuff seemed more valuable than the paid)

Rating: B+ 

2/1 Average Nightly Rent- $215

1/1 Average Nightly Rent- $207

House- $207

Other Software Choices:

Pricelabs- Dynamic pricing

-Question; do they do dynamic pricing for RV spaces? 

Guesty- Sync booking calendar, correspondence with tenants

August- Keypads that sync with VRBO or AirBNB

*I am not married to any of this software and am open to anything.*

Management: I talked to a local property manager that I think has a good product. He led me to believe that I might be better off with a single manager/tenant to manage the property. A couple where one could run the office and the other could do repairs. I am not opposed to that model. 23 units seems like a number that is too large for, as he hinted at, a traditional property manager but maybe too small for a full time "duo", especially in non peak times. Feel free to be as critical as you would like. I am looking to get this property up and running ASAP.

[Michael Baum]

Hey @Kai Van Leuven, where exactly is the property? Is it on the water side of the highway? In Longbeach or Ocean Park or ? Have you already bought it?

I am quite familiar with the area. My mother-in-law lived there for a long time before she passed. My wife's brother lives there now and we might take over the house and turn it into a vacation rental.

Personally I would be leery of buying rentals in WA state due to very pro-tenant way of doing things here.