I'll focus on maintaining the property and optimizing rent increases to ensure consistent returns over the years.

You would assume that sellers know that they should optimize NOI before listing, but most don't and STILL want you to pay a price based on what NOI could be.

On the financial side, work with a CPA who understands real estate to optimize your tax strategy, especially for deductions like depreciation and expense write-offs.

I am also looking for tax optimization as the business will require cash reserves and is a high risk business from a liability perspective.

I’d love to hear more about how you approach finding these under-$2M properties and what strategies you’re implementing for operations optimization.

Equity growth is the priority with mitigating any cash flow loss or optimizing the property for superior cash flow.

Even in the off-season - you can optimize visibility by setting competitive pricing, using high-quality photos, and enabling Instant Book with flexible policies.For older listings, try adjusting prices with dynamic tools, highlighting upgrades, and regularly updating your title, photos, or descriptions to stay fresh in search results.These tweaks can make a big difference!

Smart investors first focus on finding quality properties—such as those in thriving areas of Brooklyn or potential neighborhoods around Manhattan—and then reverse engineer the process by improving management, optimizing rental structures, or enhancing facilities to make it worthwhile.

Quote from @Terrence M Brannon: Quote from @Garrett Cuppels: spent $15 on a book about Airbnb rentalSkip the Flip by Hayden Crabtree which was freeHow To Start A Profitable Airbnb Business in 4 Weeks: Optimize Your Profits and Go From Side Hustle to Passive Income With Minimal Effort What book did you buy? 

The cons as i see it include loosing the 2 of 5 year cap gain exception, typically not an ideal rental because the emphasis at purchase was buying a good home for your family and not a rental with optimal return (my ex-home consistently has the lowest cash flow for equity in my RE portfolio), not disconnected enough from the property causes addition angst on damage and may result in over improvement.