Currently I am taking my real estate courses to achieve my license so I would be able to invest and learn more about real estate.

My idea to achieve this is to convert the studio into a short-term rental.I’m trying to determine if I’m forcing this deal to work by relying on the short-term rental strategy or if it’s a reasonable approach given the numbers.

Was sold above the asking price                   within days of listing.High ROI: Achieved a 50% return on investment due to low renovation costs and increased sale price.Investor PerspectiveRecognized the potential others overlooked by seeing beyond the property's initial appearance andm aximized profits by investing wisely in visible, impactful areas.

Can you raise rents, reduce expenses, or change its use (e.g., short-term rental, mid-term rental)?

There are countless short-term rentals sitting empty there. 

Aggressive pricing is necessary to achieve this, so it's important to ensure the property is realistically priced in line with market standards, which often is not necessarily what you're hoping to sell for. 

Best regards,Yaroslav @Yaroslav Shtogun what about a slight adjustment to the property line and executing a no build easement so that you're achieving the purpose of the setbacks?

@Ella Marie the Pro's are you can build long term wealth, the Cons are you can lose money if you cannot properly quantify risk.

If you did finance some of the purchase using a non-recourse loan, then you need to read up on UBTI/UDFI and there are some taxation benefits that the IRA can achieve since it now owes taxes in that scenario.

Long term/ short term rentals would work, ideally in the $400k range or lower.