Your decision to lease this property for short periods is what makes this a short term rental property, not the property itself.

We increased the rent slightly after the first 24 month lease and were able to recently increase the rent when the first tenant moved out.Lessons learned?

Option 2: Make minor upgrades to the rental property to increase the rent (the current lease is almost ending) and hold onto it.

Essentially, your new replacement property will consist of (1) a thirty plus year ground lease on the real property you already own; and (2) new capital improvements made on the real property you already own pursuant to the new thirty plus year ground lease.

., one-year ownership before renting, minimum lease terms, or rental caps in the community).

Haggle with them to a maximum 60 day timeline) as you need time to renovate and get it ready for spring/summer market when most peoples leases are up.

@Noah Laker Will you be running the house or leasing it to a company.

The company I currently use for my other investment homes said they don't offer management for any co living... unless everyone in the home is on one lease.

Run the numbers as if you leased the property from him at 10% x the value of the home( not including 1,000 acres) in lease payments @60% occupancy.

It seems some do more bookkeeping/banking, and some are better for leases etc.