I’m exploring the idea of turning it into a furnished long-term rental to hold onto it, generate income, and possibly return to STR when things settle down.However, I’m new to the furnished LTR space and would love advice!

With a Solo 401(k), you are not required to maintain a "custodian" unless you are interested in exploring that avenue.

I will explore the refi avenue to access the equity.

Hey Camille,It’s great that you’re exploring multiple markets and thinking critically about population trends and affordability—it sounds like you’re off to a thoughtful start.Regarding Detroit, I’ve invested heavily there and have seen firsthand how much potential the market has.

By exploring options for cost-effective utility usage, such as installing low-flow fixtures and implementing irrigation systems, we can significantly save on water expenses.To keep things running like a well-oiled machine, you’ve got to have a rock-solid asset management plan.

I'll be exploring these options in parallel.

BiggerPockets has forums dedicated to both states - explore and see which resonates more!

It's best to reach out to multiple lenders to explore your options.

I’m curious - are you leaning toward staying local in Connecticut, or are you open to exploring oppurtunities in out-of-state markets like Phoenix?

And you are continuing to invest in real estate a 1031 is a good option to explore.