Make sure to dive deep with your lender on the analysis to ensure you make the right decision based on goals, short and long term. 

They will ensure everything is square.

Mitigation Strategy: Cost-efficiency improvements such as energy-saving upgrades or negotiating better service contracts to reduce operating expenses.

I also like how you’re thinking about selling only when it leads to something better—it’s not just about timing the market but ensuring the next deal is truly a step up.

The key factor is ensuring the property qualifies for favorable tax treatment by adhering to IRS rules regarding short-term rentals and material participation.For the 7-day rule, the IRS requires that:The average guest stay must be seven days or less for the property to qualify as a short-term rental.If the average stay is 30 days or less, you must provide substantial services similar to what hotels offer, such as daily cleaning or concierge services.Regarding material participation, to further classify the income as non-passive, you must meet one of the following criteria:You spend more than 500 hours actively managing the rental in a year.You manage the business yourself and spend at least 100 hours, with your involvement exceeding that of any other person involved in the rental.Please note there are actually 7 ways to qualify, the above two are the most common.

Location, Location, Location is really the best start to ensuring your jam packed throughout the year and not just seasonal.

A couple ideas below:- Have tenants pay utilities if they don't already- Refinance into lower rate- Increase rents (or convert to mid term/short term rental or rent by the room)- Call the county tax assessor's office to ensure there was no mistake in the tax increase- Call your insurance broker to get you other quotes- Sell the property and 1031 into a better market that does not have those issues- Self manage if you currently have a property managerHope these help!

Hello BiggerPockets Community,I'm a new landlord and want to ensure that I have the right insurance coverage for my rental property.

Ensuring the safety and security of my guests and property is of utmost importance to me.

This demand helps ensure consistent occupancy rates.- Economic Growth: Milwaukee's economy has been growing, with a mix of industries such as manufacturing, healthcare, and technology.