Even though they planned to refi after five years, the seller financing did not require it, it was a 30 year term.Overall I think I did a decent job of evaluating the property (still some room for improvement there), but not the people.

However once we started making improvements to the property, the idea of converting this to a STR (like the one we did a year ago), started to be a consideration.

I would advise you to look for a house instead of a condo.Condos have many fees, rules and can have expensive assessments for repairs and improvements that you will be forced to pay.Also Condos are a dime a dozen so the competition is fierce which drives the nightly rental rate way down.

This shift in terminology raises an important question: Is it truly an improvement, or are we witnessing necessary corrections to previously inflated prices?

Her health improved.

I've thought about property mgmt. but I'm having a problem deciding on whether or not giving up 10% of gross income to cover the cost of mgmt. is worth more than convenience of improving the proximity of another location closer to my primary and easier to continue managing myself.  

This can help offset costs and improve your financial position.Cash Flow- Calculate all expenses related to both properties (mortgages, property taxes, maintenance, insurance) and ensure you have a positive cash flow.Vacancy Rates- Factor in potential vacancies when estimating rental income.

I joined believing the community was here to help its members make such decisions, (smartly), and in some cases, partner together to improve the probability of success (and learning for the newbie!).

Improving your marketing on Airbnb and expanding to other platforms can help too.For your next move, consider scaling your portfolio by investing in more units or exploring long-term rentals.

If you bought down the rate it would take longer for the market to improve enough to make refinancing worth it for you.