I then hired contractors for plumbing, electrical, roofing, and HVAC upgrades.

@Roberta Allen - i purchased with the upgrades.

Many laundromats take card payments these days, which is very helpful in verifying revenue.Look at the lease terms – long-term leases with reasonable rent increases are important for keeping costs predictable, and can also be important for securing financing.Also, check out the equipment and figure out what repairs or upgrades might be needed in the near future.

This upgrade not only improved comfort but also significantly modernized the property.

The neighbors saw the STRs in the neighborhood as a huge upgrade over what had been there (run-down, neglected old houses turned into the best in the area)... 

Tools like QuickBooks or even a simple spreadsheet can help you mentain compliance and prepare for audits.Reinvest WiselyScaling a short-term rental business often requires reinvestment in marketing, property upgrades, or even hiring help.

Now, the older, house-hacked duplex comes on the market as a rental, lowering rental prices as another option available.Someone else moves out of their rent by the room unit, and upgrades to the duplex.

Hadn't heard Azibo mentioned before so I'll look into that.I'm purchasing with a bit of equity to start, plus I'll have put 25% down on purchase and am making a few upgrades.

Keep in mind local zoning laws and market conditions in Portland versus Salem—Portland might offer higher rents but stricter regulations, while Salem could provide better cash flow opportunities.Your design approach has proven successful, so continue focusing on appealing upgrades like kitchens and bathrooms, but prioritize cost-effective and durable materials for rentals.

A good friend of mine recently managed to pick up a modest duplex outside Phoenix that looked risky at first glance.. low rents, older neighborhood.. but with a few smart upgrades, it became a steady earner in under a year.You mentioned your worries about remote investing and the challenges of managing properties from afar.