One of the biggest myths new real estate investors believe?

My issue is properties have appreciated a lot since the last one.

One I know of here provides 9% minimum return and is averaging 16% since inception.

There’s no one-size-fits-all answer, but a quality advisor can help evaluate the best path forward based on your specific needs.

It may seem trivial for $3-4K/yr, but just consider it as a necessary action to be able to sell one day, otherwise you're likely to be in a serious bind later. 

One key point often left out of the discussion is whether you have a personal or commercial insurance policy.

Here’s a breakdown of the pros and cons of each approach based on my experience:Tenant Swapping:Pros:Tenant Retention: Keeps the property occupied, which helps avoid vacancy periods.Minimizes Turnover Costs: No need for cleaning, marketing, or re-screening tenants if the new person is already known.Flexibility for Tenants: Can be seen as a more tenant-friendly approach, allowing them to find a replacement without facing penalties.Cons:Risk of Unknown Tenants: The new tenant might not be as reliable as the original one, leading to potential issues down the line.Lease Violations or Delays: If the new tenant doesn’t meet the lease requirements or fails to sign a new agreement, this can lead to complications.Operational Complexity: Keeping track of the lease terms, managing paperwork, and ensuring proper screening for new tenants can increase administrative work.Notice for All (One Notice to Vacate for Everyone):Pros:Clear Expectations: Everyone knows what’s expected, and there are no surprises with last-minute tenant changes.Consistency: Easier to manage leases and tenant turnover with a straightforward system.Quality Control: You can screen all tenants that are moving in, ensuring the new occupant meets your standards.Cons:Longer Vacancy Periods: The property may stay vacant for longer, especially if finding a replacement tenant takes time.Tenant Frustration: Current tenants may not be happy with the requirement to vacate, even if they want to stay.Marketing and Re-screening Costs: You’ll have to go through the process of finding and screening new tenants, potentially leading to increased costs and downtime.I’d love to hear what others are doing!

Buying two rentals in one year can be a challenge, but there are creative ways to make it happen:House Hack the Duplex: Buy the owner-occupied duplex first.

Borrowing against securities is a high risk proposition.

Building on what's been said so far, STR is hard in Philly, and hard in general right now with the market and platform fees, etc.You owning the property and living in one of the units gives you both more flexibility and more oversight over the other 2 units to experiment.Assuming you've gone through the regulatory hurdles, you should rent one as a long-term rental.