Congrats - are you still living there or have you transitioned to another "hack" and keeping this as a full time STR?

Keep tracking equity contributions, as this will be crucial when transitioning property B into a rental or selling your share.

., cost segregation studies), carrying forward 2024 losses, and accelerating deductible expenses to reduce taxable income.Shift to Passive Investments: If management has become burdensome, hire a property manager or transition equity into more passive assets like turnkey properties, syndications, or REITs to reduce workload while maintaining income potential.Expand or Reinvest: Use your equity to acquire new cash flow-positive properties in markets with strong fundamentals, focusing on diversification and long-term stability.By refinancing, selling underperformers, or paying down debt, you can improve liquidity and cash flow.

I made the transition to midterm rentals and it was the best decision I ever made.

In 2021, after completing the BiggerPockets STR course and analyzing market data, we transitioned the property to a fully furnished premium short-term rental after the tenant moved out.

The Rapid City area has some unique opportunities, and building connections now will set you up for a smooth transition.

I haven't been expanding my business with LMHA since the end of 2016 per my posts above so I don't know exactly what changed, but I expect the outsourcing of inspections to private industry + some executive level leadership + replacement of staff with new faces excited to serve the needs of HUD/Landlords/Those In Need has resulted in an agency I will develop more business with.The HCVP will always be a double edged sword for landlords (See Section 8 Bible discussion) but for now I have discovered it is finally worth the effort to participate in the program.I specialize in Toledo's transition neighborhoods, discounted houses on the edge of nicer areas but also on the edge of trash...the Section 8 program allows me to get long-term tenants who are a good business model provided they are consistently managed and visited/inspected for additional "visitors" (relatives and random dogs/cats) and damage/housekeeping which can destroy a home if left unchecked.You need to know the rules, repair and renovate for long-term durability, prepare for inspections thoroughly and keep a team of contractors who will hold those standards...after 8 years we have been through a hundred inspections.

Similar to what you said I knew I needed cash reserves for our business but didn't want that money laying around in a checking account not earning any interest.For book keeping I recently transitioned from Google Sheets to Stessa. 

This may be challenging with both of you in full-time W2 jobs, but worth considering if one of you can transition to real estate part-time.Alternatively, the Short-Term Rental (STR) loophole offers another path.

When I do it for me and my clients, we go very conservative to give better expectations of the transition process, than if it goes better, great!