Also, the turnover will be much lower, but maintenance costs might shift too, so it's good to plan for that.Happy to connect if you need more tips!

Extra 4 months of carrying costs are up most of the margin.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

Any tips on balancing renovation costs with tenant expectations when preparing a property for midterm stays?

Evicting them, even after purchase, could be a lengthy and costly legal process.

For these, costs tend to double across the board, especially for older buildings.

Run the comps, calculate repair costs, and plan multiple exit strategies so you maximize every deal—whether that’s wholesaling, flipping, or holding for cash flow.

However, co-living allows you to acquire properties with as little as 0%-5% down, drastically reducing the amount of cash required.Instead of needing $100K+ to buy a rental, a co-living strategy lets you start with a fraction of the cost while achieving higher returns.3.

When evaluating a property management company, it's important to look beyond just the management fee and consider the full scope of services and costs involved.For example, at our company, we charge a 10% monthly management fee, a $250 lease renewal fee (unless it’s a takeover tenant, which requires additional effort to establish a strong relationship - because usually people are changing pm companies for a reason), and the first month’s rent as a leasing fee.

Also, what are some other low cost amenities that I can add to my STR that will yield a higher ROI?