- **Market Analysis**: Gather data on the local market, including comparable sales, average days on the market, and trends.

Compare and contrast:My long term portfolio is largely remote from me, whereas my STRs are within minutes.  

Comparing two deals - with almost same price point #1. no rent increases but Percentage rent lease - There is a base rent ( ~65% of NOI)  and the rest is percentage of their gross sales in last 12 months#2. 10% rent increase every 5 yearsAs a newbie option #2 seems preferable /safer to me, and #1 may be slightly riskier.

If you don't have the 5% down payment then you can do a HELOC on your current house to do it, but it will at least be easier to pay back compared to a 20% down payment on an investment property.

Some property management can be a big help, but no property management company is going to prioritize the client with one unit compared to all the others who have a lot.

If you are charging market rent, the rent you will lose for that 1 week of occupancy would afford you the ability to rent a comparable property on the market without the need for any of this kind of nonsense. 

I wouldn't worry too much yet but if after a couple more days of no activity, I would bring the price down a bit to be closer to the top end of the market and see if there are recent comparables that have been rented (especially if you have access to the MLS)

Additionally, ARVs in these areas have a cloud of uncertainty so it will be prudent to be conservative in your analysis and have multiple exit strategies in place.If the home is located in an area with minimal impact from the storms, there has been a small uptick in pending sales the past two weeks compared to same period prior to the storms.

I highly suggest against that and just doing one larger rent increase to $1000, but if you are only trying to do one unit at a time, make sure you don't try to make a drastic increase to all 4 tenants if you can't afford for all 4 of them to be out at once.I'd consider showing them some data on comparable rentals and let them know you are trying to improve the building by renovating the units.

STRs have very substantial tax advantages compared to other strategies as long as proper tax planning is done.Let’s start by getting an understanding of how rental property loss recognition has evolved over time.