The operation of an STR has almost nothing to do with real estate and 100% to do with hospitality, that is where you can distinguish yourself from other operators, provided you made a good decision in your initial purchase. 

So think twice before taking any outsized risks, as you already achieved a nice equity base, and you don’t want to end up screwing the pooch by taking unneeded risks ;)Good luck and keep us posted on your decisions…

Would love to hear what’s guiding your decision-making!

So my best advice would be to not make a clear cut decision yet, but keep your eyes open for an opportunity that gets you there.

It's a big decision, and I recommend spending some solid time in each area.

Required again as of 12/23/24 Appeals Court:"In light of a December 23, 2024, federal Court of Appeals decision, reporting companies, except as indicated below, are once again required to file beneficial ownership information with FinCEN.

They partnered with an experienced realtor who handled most of the contractor coordination while they focused on financing and design decisions..

EVERYONE makes decisions based on rules of thumb!

Your equity doesn’t matter in the taxes or decision.

And in part, it depends on the investors and capital that you have access to (this tends to play a factor in many decisions when raising outside capital).If you do want to go the fund route, you might want to consider using Avestor.