The initial plan is a 1200 sf build out with plans to expand back away from the cliff later as finances and interest rates are more favorable.

Rates change all the times, but if you had a rate lock, that really doesn't make any sense to me.

You need to be aggressive with your pricing to compete for the few available renters.I recommend dropping our price to $1,750 and offering a month-to-month lease or six-month lease.

Eva, trying to answer your questions here that you dropped in the thread.1.)  

I started at $500 over LTR rates and bumped it up $50 in between each tenant until I felt like I hit the ceiling. 

Real Estate Market Predictions for 2025Single-Family Homes: Prices will likely remain flat due to homeowners holding onto low-interest-rate loans, causing fewer properties to hit the market.

If not, re-check everything - listing, photos, rates, booking policies, etc.Often, newbies have rates that are too high and/or booking policies that are far too onerous.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Miami.

Purchase price: $415,000

Cash invested: $90,000

MY FIRST RENTAL PROPERTY !! BEAUTIFUL DUPLEX IN THE HEART OF MIAMI ...

Drop price $50 or $100 Wait 2-3 weeks and if no renter emerges drop it another $50-$100.

diversification and cash flowSan Jose, CA has been very appreciation heavy... and i'm not opposed to keeping some property here, though the multi-family / commercial real estate has very low cap rates, and low growth from what i'm seeing.