@Vincent Aiello - and for payment, do you utilize paypal or another online portal?

That way, you're getting paid without having to interact directly with the tenants, screen them, collect rent, drama, etc.I've worked with some of the population that utilizes group homes.

Do most of them include the utilities in the monthly fees?

Over all, a portfolio of DIVERSIFIED (as to residential areas) properties utilizing a buy and hold strategy should provide an adequate risk adjusted return without utilizing any other “opportunistic” strategies to “gig” the ROI.  

For example, temporarily stopping utilities to their unit during a repair or if there will be loud noise or a major renovation on the premises. 

Well, do they have a job to pay that extra $200 plus utilities per month?  

Please provide a forwarding address prior to moving out, and be sure to cancel/transfer any utilities out of your name by the move out date.

@Pretty Khare As Ruben and John mentioned above, you can utilize a cost segregation study on your STR property to reduce taxable income (or create a taxable loss) to offset against your W2 income, but you need to ensure you are following the IRS guidelines very carefully.

Utilizing this strategy with FHA or Conventional loan products.Although sometimes the 4 units can be hard to find sometimes you can compromise and find maybe a 2 unit or 3 unit with 4 units.

After getting a good amount of equity in the house for future HELOC funding, I was going to move out of it and use the property as a rental utilizing a lease option, or, rent to own agreement.