Are STR's worth it for a high-income earner?

[Ada Tor]

I am considering venturing into the STR market chasing higher returns (gotta be honest!) after liquidating my long term rentals. My first "trial" STR would be my primary residence on days when I'm not home, which is about half of the month.

After reading pages and pages on BP forums discussing potential issues, my biggest concern is personal liability. I am a high-wage earner (getting a W2 from a Fortune 500 company) with a substantial career growth potential in the future. Feel like it makes me a good target for lawsuits, frivolous or otherwise. Should I even mess with STRs? Or stick with the tried and tested LTRs?

Anyone been in this situation and can chime in, I'd appreciate it.

[Julie McCoy]

Anybody can get sued, whether you're operating a STR or LTR. Have the correct insurance to cover STR activity in your home (Proper and CBIZ are the two major players in that area) AND have an umbrella policy in place. You'll be fine.