I’ve experienced success in the STR market here in St Pete myself but I’ve since transitioned my properties to long term rentals for convenience and time management sake.

Hi Randall-Congratulations on buying a rental property well back in 2020.I am sorry to hear the property is now cashflow negative $200 a month.Your question is should you sell or continue to keep it with the negative cashflow.Depends on your personal goals and if being negative $200 a month plus any unexpected repairs or vacancies is affordable to you, but if you can solve the negative cashflow by turning the property into a furnished mid-term rental, for example, your future self may thank you.To Your Success!

Hey @Ryan Cousins, yes I have success helping my clients purchase properties in those areas.

congrats, looks like a great success

Great roi and successful brrrrLessons learned?

Affordable relative to the rest of the US so great place to work remote or just enjoy a reasonable life without being hugely cost burdened Cons: A lot of older than 1980s construction (you 100% can be successful with these properties just have more to check during due diligence) Need to be mindful of market rents in the area and not overspend on renovations where there is not ROI to do so, you can’t usually exceed $2 sf on rental rates and average price per sf is 1.25-1.5 sf (neighborhood, unit type, and finish level specific).KC is not a boom and bust market, you don’t get the high highs or the low lows.

I have been involved with a few of these projects in different areas of the country and each one I have worked with has been a great success.  

Working with a CPA can help you navigate tax implications, and staying focused on long-term planning will set you up for success.

Success depends on finding properties in less restrictive areas with strong year-round demand and aligning your strategy with local rules.This post does not create a CPA-Client relationship.

Cheers to a successful 2025!