If you want to make a smooth transition, be upfront with your tenants about the rent increases early so there are no surprises. 

From unexpected fees and rigid terms to missed opportunities due to slow funding processes—these factors could be impacting your bottom line more than you realize.Have you ever re-evaluated your financing strategy?

It’s also important to think through what happens if one partner wants out or if unexpected issues arise.

If there is more surprise, I’d negotiate post inspection.

And do not be surprised if it is in the wee hours of the morning or night.   

My friend ran into some unexpected zoning issues when he started adding RV spots, which set him back a few months.Since this is your first STR venture, it might be helpful to connect with others who've walked this path.

The disparity is even more alarming in Worcester, where median income has grown by 19.7 percent, while mortgage payments have surged a staggering 82.9 percent.It’s no surprise that home prices in Worcester have risen, but I didn’t realize the jump was so dramatic.What I’m seeing on the ground is that many of the buyers for multifamily homes (multis) in Worcester are coming from the east—places like Greater Boston.

Any surprises, good or bad?

Just because someone has a real estate license doesn't mean they know how to properly screen.I'm surprised dual representation is even allowed.

I asked  how many staff members they now have and was surprised to hear its still the same 3 partners with no additional employees or support.