Explore New Haven County's opportunities, including multi-family properties, strong rental markets, and owner-occupied financing options.

Another option, to echo what @Andrew Steffens said, would be if you're serious about this business it might be worth your time to work with a licensed property manager to learn the ropes, gain some credibility, and figure out if this is something that's a good fit for you long term. 

If I can get a heat pump done for $5K vs. a forced hot air system for $15K and its a LTR where the tenant is responsible for utilities, why wouldn't I go with the cheaper option? 

I would love to talk to you about financing options as we help many investors, beginner and experienced, with funding that utilize the BRRRR method.

I informed the landlord of their options.

This is particularly beneficial in popular tourist areas where demand for short-term lodging is high.Flexibility: Owners can choose when to rent their property, allowing them to use it personally during off-peak times.Support for Local Tourism: STRs provide a unique lodging option for tourists, helping to boost the local economy by attracting visitors who may prefer a home-like stay over traditional hotels.Diversification for Investors: STRs provide real estate investors with an additional income stream, especially if they own properties in tourist-heavy areas.Cons:Strict Regulations and Higher Fees: San Antonio recently updated its STR regulations.

Another option could be to sell and put that into something appreciating faster and maybe a bit closer to where you live. 

Once you start real estate investing you won't ever look back 😂Sounds like you are well on your way, and once you save up a little cash you might benefit from linking with a good lender to see your options!

A better option is for the tenant to take out a personal loan, pay me in full, and make payments to the bank.

I’d recommend looking into insurance options, as it adds valuable protection for your investment.