I'd be happy to get you some rough terms to compare to other options that you have, but I also agree with Jay that you should be wary of just selling and loosing that equity that you've built up in the property.

A property doesnt increase in value just because an STR is run successfully on it. its value on paper is based on the comparables in the area.

Property Valuation:Investors look at a variety of factors to determine a property’s value, including comparable sales (comps), rental income potential, and location.

  $6.25k feels manageable, so I compared the rent vs purchase numbers.  

Take a look at the pictures, is it higher, lower, middle quality compared to yours.

Here are a few things that I like about the neighborhoods in Indy compared to other states: high rent-to-home-value ratio, consistent and gradual city development, relatively low property tax and insurance cost, affordable renovation service cost.

This plays into the affordability issues for tenants by allowing them to live in nicer neighborhoods for less money, yet I get monthly revenue comparable to short-term rentals.

I would compare my return with any market, anywhere but 1) this is a different San Diego market than the one I have been so successful in 2) while I am a big fan of leverage, I am not a fan of over leverage.

For my screening criteria - income from all financially responsible applicants is combined and compared to rent.

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.