Since getting started we have learned a lot and have built quite a few systems and processes to increase efficiency and maintain consistency within our business. 

Develop your negotiation skills so you can secure better pricing, seller financing, or terms that increase your bottom line.

Can I use my current homeowner policy and just increase the limits?

However, the depreciation claimed while the property was a rental must be accounted for upon the future sale of the personal residence, which could increase your capital gains tax liability.The adjusted basis of the property (original cost minus depreciation) will be used to calculate gains or losses at the time of sale.

We have an existing mortgage (backed by these 2 lots and 2 others) and given the increase in appraised value there is no need to pay anything back to the lender when selling the lot.

In most markets it is not a linear price increase.  

As we continue to stabilize supply chains, seasonal and historical patterns can provide insights for executing your next project, ensuring you factor in risk and stay within budget.Question: What are your thoughts on adjusting to the "new normal", how will investors manage increasing costs with many forecasting stagnant appreciation for the coming years?

Increased revenue and decreased parking demand allowed us to carry income-restricted units as well.We originally planned on spinning it out into a brand, but we never had the bandwidth to do so.Our largest hurdle has been education as most of our tenants are coming in to rent traditional units.Investors did not love it. 

Assuming you go the HELOC route, another option to reduce your costs assuming you have decent credit is to look at credit card balance transfer promotions.Back in 2003-2004 I had HELOCs on my investment properties and interest rates were increasing.

But I do have some family in Canada that have told me there has been some tax increases to the STR owners to try combat housing issues.