How many (STRs) is too many?

[Abe DeHart]

I've noticed that many of the seasoned operators on this forum have between 5-10 STRs. @Paul Sandhu notably has 23, and 83 bedrooms (I think?). Is the # of doors a fair assessment, and if so, why not scale further? I'm guessing owners fall in a couple buckets:

- Don't automate and can't handle the repetitive tasks of more than a few rentals (probably not most of the pros here)

- Buy several STRs, achieve financial freedom, and are content to stabilize the properties and cashflow

- Focus on new revenue streams outside of STR

Is there any reason not to scale STRs like LTRs? For context I have 43 LTRs, 1 STR, and a 6 unit STR under contract. It seems like scaling STRs could work as long as you can get help with managing the "details".

[Scott K.]

You forgot the last bucket. Which is those of us who want more but are currently waiting on money, or for our time to free up from the last purchase. I'm on #7 this year and hope to get 1-2 more each year until I get bored. I'll probably hire a manager at #10 or #12 so I can buy more per year. I don't see any reason to stop. 

It takes a lot more capital for an str due to all the furniture and supplies and increased quality of rehab. So it's a bit harder to scale as fast.