Looking for advice in scaling STR business - Got one running in Hyattsville, MD

[Priscilla Shu]

In March I rented and furnished a 4 bedroom home in Hyattsville, MD for STR and it's doing well so far with 21 nights booked since listing on March 18. I'm looking to basically rinse and repeat. But I don't have the bandwidth to keep furnishing these properties and I also want to make sure I'm not moving too fast. Any experience in the DMV market or just with scaling in general? I have the option to go into other markets such as Pensacola, FL and Phoenix, AZ with already furnished rental arbitrage. Just need to hear someone say it's ok keep going, it's worth the risk (if it is) :)

[Ozzy Sirimsi]

Quote from @Russell Brazil:

Quote from @Priscilla Shu:

In March I rented and furnished a 4 bedroom home in Hyattsville, MD for STR and it's doing well so far with 21 nights booked since listing on March 18. I'm looking to basically rinse and repeat. But I don't have the bandwidth to keep furnishing these properties and I also want to make sure I'm not moving too fast. Any experience in the DMV market or just with scaling in general? I have the option to go into other markets such as Pensacola, FL and Phoenix, AZ with already furnished rental arbitrage. Just need to hear someone say it's ok keep going, it's worth the risk (if it is) :)

When you say rented.....you are not the owner of the property? Short term rentals are only available to owners in PG County. How did you get the STR license if you don't own the property?

What do you plan to do when you hit the cap on days rented?

 I think many investors are going around that rule in Baltimore City, so I assume they are doing it in other counties.