I've decided to stabilize it and pay down the mortgage for a while and reassess in the future what my plan is. 

Here’s what I’m considering:I plan to call the mortgage company tomorrow to explore any assistance options they might offer.Should I look into selling the property?

For the experienced cohosts in the group, I’d love to get your thoughts on payment processing options for cohosting companies (LLCs) that position themselves as property management companies but operate without a broker’s license.As an investor and soon-to-be STR entrepreneur, my business will initially focus on managing a small portfolio of vacation rentals with plans to scale. 

We like the software, but the consulting service seems taking a bit too long... we would like to have someone to help us out with set ups, automation and a general marketing plan...

As I've learned from my experience, it's essential to consider this timeframe when planning and executing syndication deals.By carefully analyzing the real estate cycle and market trends, we can strategically time our investments for maximum gains.

Lilia’s breakdown of what to consider before investing is something I wish I’d read when I started.To add some color, I had a client a few years ago who purchased a duplex in Austin with a plan to hold for 12+ years.

It depends on what the terms of your mortgage are.Pros-with no mortgage, you have higher cash flow.Cons-if you plan on buying more properties, you are better off saving the money for a down payment for your next place.The big questions are: can you get higher than 7% return if you invest that money elsewhere? 

Building good relationships with tenants and professionals while planning for future scaling opportunities can also help you grow sustainably.Good luck!

I am planning to make the purchase with a Black Friday sale!

I have my own "go to" plumber and electrician as backups when/if something doesn't go as planned with his crew.