There's definitely a lot of merit to transition over especially when you're at the size/scale you currently appear to be.

The problem is that your debt payments are going to basically wipe out that $400K profit unless there is room to increase revenue or reduce expenses.

.- Phase 2 (April 1, 2022)Applied to all remaining existing policies, transitioning them to the Risk Rating 2.0 methodology upon renewal.The new system replaced the decades-old approach to calculating flood insurance premiums, aiming to provide fairer and more accurate rates based on individual property risk.Before Risk Rating 2.0, flood insurance premiums were mainly based on whether a property was inside or outside a designated flood zone and its elevation on a map. 

I work with a handful of repeat clients who have succeeded and profited very well with all exit strategies. 

Yes this leaves more money in the deal but it reduces my risk and ensures I can remain profitable in a down market. 

I think the fear of evictions is especially acute for those transitioning from the STR space.

Scale Strategically (if this applies to your goals) Reinvest profits, use the BRRRR method (Buy, Rehab, Rent, Refinance, Repeat), and leverage 1031 exchanges to grow your portfolio tax-efficiently.I'm a mortgage lender at Aslan Mortgage Lending and would love to find time to talk and discuss your journey.

You Make More Than Zero DollarsSimple math: 100% of no deal = $0.00 every time.A good deal, even if you’re getting only a piece of the profit, still makes you money.

If you are successful, you should have profits to pour back into the next project.

Have a strong partnership agreement that clearly defines roles and responsibilities, profit sharing, exist strategy, etc.