it is mostly from what I've been seeing in activity in my STR, and in talking with some friends who manage restaurants.

So you may actually be able to make more money with much less effort if you did convert this to a long term rental.I am very active in the market here in helping people from out of state buy and sell condos.

Perhaps there is an opportunity for us to work together.Thanks again for responding.If you're looking locally, I'd focus on markets with a decent amount of activity/inventory so that you have more options i.e.

You can add them but If you just go with what is active on furnished finder you will be right in the market range for the monthly rent and should cover the utilities + some.

Quote from @James Wise:I need to dig up a podcast that I listened to about 2 months ago with Tom Ferry, and the person was giving all the states, You are pretty close to that number on 5 days or more.. 95% range, the industry is very off kilter these days with the low activity of 2023 and 2024 that most people licensed just retired, gave up, or thought they were going to do something and never could get a sale due to bad leadership.

While BRRRR works for scaling, explore turnkey rentals or creative financing in cash flow-heavy markets to accelerate growth.This post does not create a CPA-Client relationship.

By electing QBI safe harbor, you ensure that your rental activities qualify as a trade or business under §199A, provided you meet the 250-hour material participation rule and maintain proper records.

The sooner that you can have crews actively working on-site, the better.

I was recently exploring a two-story commercial building for sale on a corner in a growing downtown area.

Needless to say, as you mentioned, that is no longer the case with current market conditions.I'm biased, but I recommend exploring and considering the option of vacating both units and renovating both sides for PadSplit.