Based on comps, you could sell for $275K to $300K, leaving little profit once you factor in holding and closing costs.The conversion to a 4/2 near a university is promising, but the risk lies in unexpected renovation costs or market shifts.

It needs to be shouted from the rooftops on BP - THE BIGGEST FACTOR IN WEALTH CREATION IS YOUR W2 INCOME!

Purchase price: $80,000 Cash invested: $25,000 I helped my father-in law convert his LTR to a STR recently (he's owned it for forever, but we wanted to see if we could increase the revenue by switching strategies and updating it).

Opt for a property management company with deep regional expertise to get the most out of your investment.Property Expertise: Look for a firm that has experience managing properties similar to yours and is familiar with your asset class’s specific challenges.Company Culture: Choose a firm with a customer-focused culture that values team management and service, as this directly affects property performance.Market Reputation: Speak with local brokers and visit managed properties to get a sense of the company’s track record.By focusing on these factors, you can find a property management company that aligns with your goals and delivers real value.

For example, maybe a house hack where you are offsetting your housing expense allows you to live in the heart of three key quality of life factors (Where you work, where you leisure, and where you shop).

Most homeowners shift to winter rentals during those months to keep some cash flow.If you’re planning to use the property yourself for two weeks in the summer, it’s important to keep in mind that it will take away a significant chunk of prime revenue, which will make it harder to break even or generate solid income.If year-round traffic is a key factor for you, you might want to look into areas down south or near a National Park, but with the right property and strategy, Cape Cod can still be a good investment—especially if you’re looking to have something to enjoy and eventually leave to your kids. 

Otherwise, someone who just abandons a rental would be liable for rent FOREVER!!!

This doesn't mean you stop investing in those areas, it just means you need to factor that into underwriting and be prepared for it.

If you understand and know how to use software like Quickbooks you can do your bookkeeping forever on your own if you want to.

At the same time, I fear that a new tenant might stay there for ever and interfere with the sale at a future date.