So I would suggest keeping your STR property geographically close and doing as much as possible to keep your profit% high as possible.As far as the actual house you use, I would just say - be honest, be fair and strive for the best area, most amenities, cleanest house, best communication, and any other extras you can get.

I think if you have a little extra time, operating a smaller STR business can pick up some good income.

A lot of folks that buy at a distance are struggling right now.  

I’m also looking into self-settled spendthrift trusts to add an extra layer of protection, especially as my portfolio grows.

McKinney is thriving, but so are other parts of North Texas, and a broader perspective could reveal other great opportunities.Here’s what I’ve observed managing a significant number of rentals in the area:Bedrooms and Layouts:3-bed, 2-bath homes consistently attract the largest pool of tenants and have the highest occupancy rates.4-bedroom homes have grown in demand, especially with the rise of remote work, as tenants look for extra space to use as a home office.Square footage is less critical than number of beds and baths.Supply and Demand:McKinney’s growth is driving demand, but the quality of the location matters greatly.

(I’m ignoring any extra cap-x because you said it was a condo, but you’d also add any major cap-x to cost basis).

It tough to compete with you experiences folks!

Most of the buyers are just regular folks looking for a home, so they are not at all thinking about cap rates. 

A longer timeline will make paying the extra 2% now more attractive.

Thanks folks.