Currently we are seeing STR owners posting for sale due to reduction in prices they can get per night and the vacancy rate increasing. 

It even states that the lease “will repeat itself” but doesn’t specify terms like figures or percentages for rent increases.

Recognize there are challenges doing BRRRRs since the rate increases that have occurred in the last couple years

It’s just going to slowing increase with inflation.  

When we create our business plan, we also include our exit plan.We'll only proceed if we can clean this up, acquire new tenants at higher rents so we can increase our NOI, which in turn should reflect our cap rate and profits.Since this asset class is new to us we will tread cautiously.Scheduled to preview tomorrow. 

The increased cash flow and the ability to pay down the loan more quickly are the biggest draws for me.Am I underestimating the time commitment of managing a multifamily property?

(Previous rent was $1,300 but we're about to put in a brand new kitchen from the studs, new flooring throughout the house, new furance, adding A/C, etc).So do we just pay for it all upfront and mostly drain all of our savings, or do I let the rent pay for it and utilize our other savings to get a second property this spring/summer to increase our cashflow? 

The house is in Woodforest though so rentability might be lower as well increasing vacancy risk due to high rental costs. 

All this makes for great guest reviews and helps increase revenues. 

He abandoned trying to scale.Learning from this experience when my partner and I decided we wanted to double our net income, we realized it would take a increase of 2 1/2 time our volume and probably need to triple our deal flow.