Ensure the STR’s projected income comfortably covers new debt, even with conservative occupancy rates, and maintain reserves for market changes or vacancies.

Note i put forth effort in an attempt to maintain a leveraged position   With the recent rate hikes, my equity position has never been higher which i consider undesired (but teading 3% rates for over 6% rates is more undesired).  

My goal is to maintain good relation with tenants and have excellent communication.

Some investors rely on the BRRRR method to keep their capital working, but in a high-rate market, a short-term strategy like flipping a property could also provide a quick cash injection to maintain growth.

If you don't have a deep pipeline, its very difficult for any builder to maintain a steady flow of builds.

While PM itself won’t create significant wealth, it opens doors: when clients sell, you list the properties; when investors buy, you manage and maintain their assets.

Strategies: maintain the most amount of credit lines possible without use; no late payments, ever; any credit that you do use as a consumer should be small relative to the credit limit of the account; keep your accounts open as long as possible; don't apply for credit unless you really need it to limit hard inquiries; space out any new applications or inquiries as far as possible. 

I'd consider doing some kind of cash out refi on the property at a number you're both comfortable pulling out, while still leaving $ for reserves to maintain the STR you currently have.

Maintaining that relationship beyond just the lease up process and whenever the tenant has a maintenance issue or lease expiration completely changes the dynamic of the relationship.

Assisted living has historically outperformed most other real estate classes, have maintained incredible occupancy rates (despite the COVID blip), and continue strong rent growth.