By prioritizing five-star reviews, I built a strong reputation, which led to increased bookings and higher profitability.

However, investing locally has become increasingly unfeasible and unrealistic due to the high costs.

I don't remember the exact cost when I did it but I remember thinking it was cheaper than expected.I didn't see a comment mentioning that you should just include utilities in the rent and increase it based off that so I'll be that guy.

Do the math and you'll see it doesn't make sense.The best way to invest: increase earnings, reduce expenses, and save.

I would also recommend increasing your liability coverage to at least $2M.

And since you are licensed, you can potentially do some sales on the side to increase income and save up for investing.

So demand for travel is lowering back to historic levels while the supply of STRs in many markets has increased by a lot.

We have created work instructions for every step of the process so we can maintain consistency in how we evaluate properties, communicate with tenants, market our properties, handle rent increases, manage property turnover, etc..... 

After that's under control, focus on increasing income through additional work at your current job, taking on a side hustle, or finding ways to increase income on your existing rental.At the same time, educate yourself.

Hi there, if you're open to holding onto the property, converting it into an Airbnb or short-term rental could significantly increase your cash flow, especially with the current demand for rental properties.