Another factor to consider is the part of town your property is in and if you would have more issues with tenants due to issues with shared space.

U may also consider cash for keys so long as agreement is in writing.

Higher cap rate ~ higher perceived risk ~ lower predictability of cash flowLower cap rate ~ lower perceived risk ~ higher predictability of cash flow @Jaycee Greene what would be or is considered a good cap rate?

Make sure your LLC is set up properly, and consider hard money lenders for more flexible options.

However, I’m wondering if I need to engage an Attorney a borrower has missed a payment and it’s time to send a Notice of Default.Must the Notice of Default (NoD) be a letter sent certified mail or would an email sent to the borrower notifying them of non-payment be considered sufficient as a Notice of Default.

To safeguard against being pushed out, include provisions for mediation in case of disputes and consider filing a lien or using escrow arrangements to secure your share of profits. 

I’ve seen some investors focus on surrounding areas or neighborhoods with more value-add potential, as they can offer better cash flow options.Curious to know if you’re also considering multi-family properties in the area?

These are something to be considered.

That is a reason I would consider selling one, because the STR is in a market that is likely to have more appreciation.

You should also consider joining your local real estate investors association for additional education and networking opportunities.