Long term rentals are easier to manage and come with less risk.

Are you currently self-managing or do you have a management company?

I do not have 5 layers of management that make my rates higher, no lender I work with pays for my office space, licensing, benefits, marketing department, compliance department.... 

This includes structural components of the building.

I personally believe that a better way to jump into mid term rentals is to take a course on buidling a property management company or cohosting business where you bring your skillset to the table without the intial investment into all the furniture and leases.

Big lenders like Flagstar that have a servicing component are currently using their servicing business insight to go after refinance business internally.

@Kwanza Price tips for managing contractors:1.

Not only couldn’t the investors hire management for the promised 8% of gross, they couldn’t get management to work for 25% of gross!.  

It might be wise to sell it just from a management standpoint and reposition the money into some index funds and maybe another property in NC.

Working with Real Estate ProfessionalsLocal Real Estate Agent: Choose an agent experienced in student housing.Property Management Services: Consider hiring a property manager if you’re not local.Inspection and Appraisal: Conduct thorough due diligence to avoid costly repairs.6.