We get just as frustrated because the system is a bit "broken":(I believe the team is in communication with you about your options - just be sure to also let us know your choice to secure the property to deter squatters as cost-effectively as possible.

IE securing them paying tax's insurance etc etc. 

For my units, I usually look for someone with annual income 40x the monthly rent so I know they are financially secure. 

On the other hand, if you’re financially secure, the low-rate loan and potential appreciation make holding more attractive.

Wealth Building: Paying off the first STR focuses on cash flow and financial security, while buying another property focuses on scaling and wealth building.

I would check this out with a seasoned securities attorney for their opinion/guidance.  

Generally, the coverage of the policy will state; “The coverage of this policy shall continue in force as of Date of Policy in favor of an Insured after acquisition of the Title by an Insured or after conveyance by an Insured, but only so long as the Insured retains an estate or interest in the Land, or holds an obligation secured by a purchase money Mortgage given by a purchaser from the Insured, or only so long as the Insured shall have liability by reason of warranties in any transfer or conveyance of the Title.”

My strategy would then be to lease at least two of the renovated units, increasing occupancy to 90%, which could improve the chances of securing favorable terms for refinancing.I haven't pitched it to the seller yet.

Simultaneously, you're managing applicants and tenants, who are often working within tight timelines to secure or renew leases.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.