I think it is great you obtained those lots at that excellent price and want to increase the value. 

But I do have some family in Canada that have told me there has been some tax increases to the STR owners to try combat housing issues.

If you know that something major will need replacement in the future, increase the monthly amount you are depositing into your reserve fund.

@Quan Pham have you investigated at all the potential increases in property taxes and home insurance (need to have landlord policy) and included them in your cashflow calcluations?

Hi @Brendan Jones I moved to Nashville in late 2021 to begin my homeownership and investing career, buying a primary residence, house-hacking it, and transitioning to a long-term rental once I bought my next property (also in Nashville) so would be happy to share my experiences.There is a lot of interest in STRs in the Nashville Metro area, but the zoning has become increasingly strict over the years.

You really shouldn’t be running your business on a stranger googling answers for you but…the google says:  Depending on the rental agreement, Georgia landlords typically must provide a 60-day notice for lease renewals or terminations, while tenants generally need to give only a 30-day notice for lease termination.Jan 18, 2024If a new lease is not signed, and the landlord continues to accept monthly rent, the terms of the original lease still apply, except the landlord is required to give sixty (60) days' notice before she can terminate the lease or change the terms, and you (the tenant) are required to give thirty (30) days' notice before leaving.So you can’t non-renew until the end of April and you can’t even increase the rent until then.

This means that not only do we lose the unpaid assessments, but we may also owe the management company the continually increasing pile of late fees. 

I am also putting together my own syndications to help other investors increase returns but even more importantly give them the time to live the life they want.

Capacity and Tolerance. 1) Capacity: how many people can you comfortably fit in the property, is there room to add more, or add more value to the tenants to increase rent.2) Tolerance: How many people are you comfortable living with, if there are vacancies are you able to handle that.House hacking is an amazing path to homeownership, and a nice low barrier to entry into self managing your properties.

(make sure you are budgeting for maintenance and management if you plan to use it) Rent will increase over time and your property will continue to appreciate in value.