STR Property Manager Secret Sauce

[Sokun So]

I'm about to start my 1st out of state STR, but 2nd overall STR property in the portfolio with 3 years of experiencing managing a property in Joshua Tree by myself without a co-host/property manager. It's done well enough to keep the lights on with a modest profit, but definitely could do a lot better with more of that experienced property manager's "secret sauce". Other than the property manager's location advantange, this sauce is the reason why I'm considering hiring a property manager instead of self hosting.

After 3 years of the "set it and forget it" dynamic pricing mentality on VRBO & AirBnb, I'm on a mission to really understand what I'm not doing right that an experienced co-host is doing. Maybe that'll give me more confidence to manage this second property remotely + increase bookings of my current place. 

Here's a list of ingredients that I've been trying to cook up to figure out what this magical "secret sauce" is:
1. Updated Property with more amenities, maximized beds from 2 queens to 3 beds ( 1 king + 2 queens) , and remodeled exterior with a much more appealing hangout space that includes hot tub/outdoor dining/geodesic dome. 

2. Added Booking.com as an additional online travel agency (OTA) to increase potential guests.

3. Integrated into Lodgify so I can better streamline all my OTA management into 1 central location.

4. Pricelabs Education - Doing a lot of research into Pricelabs' toolsets so I can better understand how daily prices are adjusted + integrated Occupancy Based Adjustments.

5. Monitoring the booking calendar much more closely and adjusting some of the recommended prices from Pricelabs on a case by case basis.

6. Set up Direct Booking site.

7. Started marketing the STR outside of the OTAs via social media.

So what's everyone's thoughts on my receipe above? Would really appreciate if anyone has some additional suggestions that they find works well or didn't work well.

Thank you in advanced!

[John Underwood]

It sounds like you are doing more than many PM's.

Really screen someone that your going to turn over your property to as a lot of co-hosts I've seen are very inexperienced. They aren't licensed or insured.

At least a PM is typically licensed and insured.

From what I've heard Joshua Tree is very saturated so it sounds like your doing good to break even.

Since you seem to be doing everything right and going beyond what many are doing, adding someone else to manage the property will just lower your Net profits from having to pay them.