Also if someone is inside, how do you typically get them out sooner VS later ? 

Or sooner.

With that price range you are looking in I'd explore doing just 5% down conventional for a mutlifamily rather than 20% if you want to be able to save your funds to be able to purchase again sooner.

For those of you who’ve been in the short-term rental game for a while, what’s one lesson you wish you’d learned sooner?

@Nold R.In addition to the great post from Dave, possibly consider an option where the property is taken out of the LLC sooner rather than later and held as tenants-in-common prior to the sale, possibly setting you up in a position to take your share of the proceeds and individually purchase a replacement property via 1031 exchange. 

I have to expect we're in for a correction sooner or later given how long it's had a bull run (other than covid and the brief really shallow "recession" we had in 2022).But its returns will almost certainly be better than 6.5% over the long haul.

It's a double-edged sword, but for the smart ones who work hard and actually try at their W2, they will get that option to leave much, much sooner and not have to leap.

Also, the sooner you can plug in actual numbers rather than projected, the sooner you can determine whether specific deals work or not.

If you want to propose 30 days for them to leave, offer a cash incentive so that it makes them feel like it's worth leaving sooner.

However, you can choose to do a Cost Segregation Study and instead of depreciating the property as a whole you depreciate each piece of the property some of which have a shorter lifespan and that allows you LARGER deductions sooner!