The last thing you want is owners under cutting each other.

These always result in lost money, wasted time, and broken friendships. 6.

Pete,Mortgage rates are falling fast and the FED meets September 17th-18th and its a 99.99% they will cut the FED rate by .25. 

“The [Fed] cut amounts to a declaration of victory over inflation, which has come down from a peak of 9.1% in June 2022 to 2.5% last month.

They cut across the board.

I have kind of a long complicated story that I’m guessing nobody really wants to hear so I’ll cut to the chase.

I did STR in a duplex starting back in 2017 and managed for others in North Conway, Ive since converted to all long term tenants and happy i did so... unless your property has something unique or a "rare" amenity.... like, sleeps 30, I honestly would not waste any energy on it in the north Conway area. so saturated, and so much big money being invested in the hotels, its tough to match amenities vs cost, and I see travelers trending back towards the hotel style accommodations. granted, for the right price, I'd buy anything and figure out what the best use for it is. use airdna.co for decent data on # of Short term rentals in any particular market. can also identify opportunities. the point of my response.... be careful in STR in any area and always have a plan B. you can change a lot of things about a property, but your cant change your basis!

@Christine House This can be the downside with investing in properties that have a HOA (sometimes they have a max capacity of how many rentals can be within the HOA, what type of rental they can be, or they can cut off rentals all together at anytime)If you have family that lives in the area, that could be a better option temporarily until you move it on into something else that can work for what you're tying to do.

How long do you wait out a market if there is a decline in rental prices before cutting your losses? 

The reason I ask you this is because if you’re overseas for several years, that is potentially wasted time as time is the most valuable resource you won’t ever get back.