The key is velocity—keep your money moving and growing.

Thanks in advanceDown payment: ~90k (25% downpayment)Rent per month: 2300 (5Bed, 4 Bath) with 2100sqftProperty management: ~150 (monthly)Outstanding loan around : ~268k (7.675% APR) 30years fixedLandlord Insurance: 1500$ (per year)HOA: 1600$ (per year)Keeping an eye on interest rates for refinance, so I can then move this property to an LLC instead.

Keeping my eye on the worst houses in the best neighbors that need some reno that I can turn into STRs or LTRs.

Yes we avoid custom work to help keep cost down. 

Clear CommunicationA great contractor is easy to talk to and keeps you in the loop.

My father is a contractor so we will be able to complete most of the work ourselves while keeping costs low and add equity.

Being proactive ensures you’re always a step ahead, minimizing risks and keeping your business running smoothly.Example: Imagine you implement an outdated tenant screening policy that inadvertently violates a new anti-discrimination law.

BrittanySelf-managing your STRs will keep that 20-25% in your pocket. 

You could also consider a reverse 1031 exchange, where you buy the new property first.Make sure to identify multiple properties (up to three) to keep your options open, and try to negotiate longer contingencies with sellers.

I would start keeping track of everything that you've had/have to do while owning/acquiring this property.