I wouldn't budge on lowering the rent because that devalues your asset. 

.$178  -  TCL 43” Class Q5 4K UHD  Roku TV - https://www.walmart.com/ip/43-HDR-QLED/7655563299$5.00  -  Sertapedic Dreamloft Bed Pillow, Standard Size (20"x26") - https://www.walmart.com/ip/seort/5493381861$228  -  TCL 65” Class S4 4K UHD HDR LED Roku TV - https://www.walmart.com/ip/seort/5830084914$50  -  Gourmia 6-Slice Digital Toaster Oven Air Fryer - https://www.walmart.com/ip/GOURMIA-6SL-TO-W-PRO/5650052853$178  - Hisense 55" Class R6 Series 4K UHD Roku TV - https://www.walmart.com/ip/The-Hisense-Roku-TV-R6-Series-pac...$50  - Gourmia All-in-One 14-Quart Air Fryer - https://www.walmart.com/ip/GOURMIA-14QT-AIR-FRY/5466948866$25  - Crock-Pot 7 Quart Oval Manual Slow Cooker - https://www.amazon.com/gp/product/B003OAJGJOOk, so as you can see, the algorithm grabbed up a bunch of Walmart deals this time around.

You are likely thinking of BRRRR just to get an asset in the box, but your scale with high rates and low inventory might still point to selling to the buyers who are still hungry and renting.

It’s safer, and honestly you aren’t spending it, you’re moving it from one asset class to another.

@Mostafa Koperly what is the underlying property asset like? 

As I see it in the current market, STR is now a way to get a really good, appreciating asset to pay for itself, not a way to produce a meaningful amount of cash flow after all expenses. 

My full-time gig is to invest in income-producing websites (digital real estate) and I'm working backwards to first increase the authority of my website to then eventually rank organically in Google.Given my experience building sites, I personally don't think SEO is as complicated as any agency makes it out to be.

This can be used to eliminate most gains of a long hold highly appreciated rental asset through 1031 + primary resident conversion to establish a more favorable ratio. 

They're good to have open access to capital/cash/equity to a property ahead of time so you can execute a deal or purchase when the time comes on a split second decision (versus having to apply to a loan at that time which might take 20-45 days to get approved/closed/etc plus by that time you dont know what your future income/credit/assets will be like in order to qualify anyway).The second use is sleep at night factor and having a reserve of capital in the event an emergency event occurs in life.For these two reasons is why I use lines of credit.

@Jeff S.Speaking of recourse loans…https://therealdeal.com/new-york/2024/11/27/acres-goes-after-personal-assets-of-tides-equities-principals/