For our second STR, we are currently researching Sherman, potentially / ideally, a less expensive duplex that we could rennovate and self manage from Dallas with workers coming to the area in mind. 

Diversifying geographically can also reduce risk and increase long-term returns.For example, there are several markets across the U.S. that are ideal for new investors because they offer affordable entry points, reliable cash flow, and strong economic fundamentals.

The customer service/property management hasn't been as proactive as I thought it would be.

If staying in the deal isn’t ideal for you, an equity buyout by your partner or another investor could be the simplest path.

I think having a balanced budget would be ideal where you allocate money into buying another property and money set aside for renovations.

You are basically a retail customer at that point.

They have other nice benefits also such as not charging for appraisals if the deal doesn’t close, a great reputation amongst local listing agents with meeting deadlines/ great customer service/ getting the job done with no b.s. and they can often close in under 14 days. 

They bring higher tenant turnover, limited cash flow, and attract traditional tenants who aren’t your ideal long-term buyers.

Ideally, I would like to have 5, 10, maybe even 15 joint venture rental properties.

After months of reassemble and some customization work, the property sold for a decent profit.