Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

With inventory expanding, it feels like there could be opportunities to secure deals, especially if the right cash flow potential is there. 

This is exactly why you take a security deposit.

Wealth Building: Paying off the first STR focuses on cash flow and financial security, while buying another property focuses on scaling and wealth building.

They didn’t completely destroy the house, I did keep most of their security deposit and used it for the repairs, along with some of our own cash.

I believed I was putting that hard-earned money into something secure.

Just swinging for the fences herePortfolio Loan or Blanket Loan: Use the combined equity of both properties to secure a new loan.

Lock down the spot get it secured...That is exactly what we're looking for.

They have a group of funding sources that will compete against each other, this helps keep the final interest rate within reason, and offer a partial refund if they are unable to secure financing. 

On 12/19/2024, we sold it for $99,000, securing a great return.