It really depends on how the fees and promote are structured among the deals.  2% Asset Mgmt Fee and 20% promote is a high-level way to look at it.

The key is to make your rental stand out among the hundreds on Airbnb/VRBO.

This one I believe is the most common especially among the older (age) property owners and new inexperienced property investors.

@Mario AmWell, the sad reality is that the worst actors among the wholesalers have earned themselves a terrible reputation, but the entire community of wholesalers has to pay for it.

Austin ranked first for job growth and share of adults working or looking for work, third for change in the size of the workforce, fourth for change in average weekly wages, and 17th for unemployment rate.A ranking published in January by WalletHub, a personal finance website, put Austin at No. 5 among the best cities for jobs in 2022.

https://www.rentcafe.com/blog/...
Huntsville is ranked in the top 10 of the hottest rental markets. There is so much economic growth in Huntsville and the surrounding communities.

You don’t want to set the bar for being the highest rent among the comps.

It's my understanding that Biden's proposed changes regarding 1031 exchanges would not apply to real estate transactions where there is less than $500k of gain.My partner and I own a 10-plex apartment building next door to an 8-plex condo building, where we own all 8 of the units.We rent all of the units in both buildings as STRs and have been doing so for 10 years in the case of the condo building, and 5 years in the case of the 10-plex.If we sold the apartment building, the gain would be ~$1.2 million, subjecting $700k to capital gains tax under Biden's planIf we sold all 8 condos to an investor, the total gain would be ~$1.4 million, but split among the 8 condos, it'd be a gain of $175k/unit, so presumably nothing subject to capital gains, and we could possibly roll all of the proceeds over into a 1031.Anyway, that got me thinking that if we converted our 10-plex into condos, if/when we sold the building, we could eliminate capital gains tax if Biden's change goes through.We also own another two other 8-plex apartment buildings, and two 4-plexes, where we are in the same situation.A google search turned up https://liberty1031.com/conver..., where a lady converted an apartment building to condos, then sold them to multiple individuals, and was deemed a dealer rather than an investor, and so was ineligible for a 1031 exchange.If we did condo-ize the apartment buildings, would we need to continue renting them as STR for any period of time before we sold to show that we are still an investor rather than a dealer?

A 1955 Disneyland opening day pennant hangs among the hundreds of narrow pointed flags covering a plank ceiling.

For example, when it comes to CapEx (like you mentioned), you can focus what's going on within your 4 walls because the HOA budgets for the roof, siding, plumbing, etc because it's all common among the other condos.As you likely know, all that matters is that your PITI (principal, interest, taxes, insurance) are covered by your collected rents.