Yes, it must be the rent prices, but also there seem to be a lot of 1 or 2 people travelers needing a small place for a short time.

I’m self managing myself but the tax side of it is a little confusing to me but I’m recording everything involved as far as maintenance, traveling, expenses etc. just want to know what some people would do in my situation or what to I can benefit from come tax season  @Angelo LlamasI recommend that you find a real estate accountant to help you understand and prepare your taxes.Bigger Pockets is a great place to find a real estate tax accountant. 

I've learned a ton about syndications, partnerships, funding for construction, the development process and so much more about managing consultants than I will ever care to admit. 

For consulting with a CPA.As mentioned above you can simply take monthly distributions, but what is most important is how you are set up. 

Make sure to consult a financial advisor if necessary and also consider reaching out to your local credit unions.

@Vidit MainiYou should have a consultation with a tax accountant to learn about tax strategies. 

If I may, let me offer some tactical advice and then some unsolicited general advice.Tactical advice: marketing to traveling oil industry workers probably isn't radically different than what you have been doing to get your rooms filled with students.

I would look at other people's STR photos for ideas or consult a designer.We bought stuff from Lazyboy and they had a designer on staff to help us pick out stuff.

Your choice should align with whether your goal is quick resale or long-term rental income, and you should consult lenders who specialize in both DSCR and rehab-friendly options.Best regards, Stevan

And consulting with a local attorney to ensure compliance with state-specific real estate laws, plus making sure you have the necessary permits, is a smart move.As you start, also look into state-specific rules regarding contractors and renovations, especially if you plan to flip in different states from where you reside.