While you shouldn’t categorize all tenants and it’s the landlords responsibility to properly screen, the tenants who reside in better situated housing and pay higher rents are more financially responsible meaning lower rate of rent loss and will generally take better care of the property which combined will result in less time allocated towards management functions if self-performed or more favorable management fee structures if 3rd party management companies are utilized (which ties back to #1, as well).

Details here: https://www.biggerpockets.com/forums/521/topics/1214849-dmv-...I recommend checking them all out initially, I bet you'll have a lot of fun networking!

Perform a Break-Even Analysis: Determine how long it will take for the savings from the refinance to cover the prepayment penalty and any other refinancing costs.

Purchase Another Investment Property and Utilize a Cost Segregation Study:When you reinvest in a new investment property, you can perform a cost segregation study to accelerate depreciation.

Getting multiple contractors involved will be your best bet to get a reliable estimate, though you need to come up with a scope of work.

@Harsh PoshtiThis will be dependent on the area and I would recommend you perform a market study to determine which project would yield better results and if either is even viable.

First, I’ll send my hopes and prayers to the seller that you can perform.

If not, buying a turnkey, rent-ready property could be a better first bet.

To maximize the tax benefits of STRs, it’s essential to track your time and other people's time spent on the property, avoid staying in the property more than 15 days, and perform a cost segregation study to accelerate depreciation.

From a performance standpoint, I see a big change.