For STRs, properties near the beach or downtown tend to perform well.Start Small and Smart: If this is your first property, focus on something manageable.

I was very happy to be able to edit and add the accurate comps, since in most cases it was inaccurate.

Are you currently managing your own properties or do you have a property manager because many times a property manager can perform the work needed for it to be turnkey.

On the flip side, saving for another property could delay financial stability if unexpected costs arise.A Balanced ApproachIf you’re still torn, consider a hybrid strategy:-Focus on maximizing your current STR’s performance.

They are really the only ones that can give you an accurate answer to your specific situation.

I would like to add that grading is more accurate if properties and neighborhoods are graded separately.

If this fails, then perform a land trust strategy.

She is a contractor and she didn't have to perform this cleaning so she doesn't get paid for work not performed. 

My wife and I have never really followed the $$/sqft. approach because it's not as accurate.

We regularly take over properties from managers who haven’t performed well, and it’s a seamless process when done right.