As Patrick mentioned, I would be careful to be competing with the new builds and stick to more affordable price points or places with a large yard or no HOA that will appeal to a different group of people than the new builds will.

We invested $30,000 in strategic renovations, enhancing the property's appeal and market value.

Thanks Hey Paul,It depends on who you are trying to appeal to.For example we did yard signs for rent to own properties we had and at the time (we were just starting out), we hand wrote "Rent-To-Own - Call ###-###-####" on them and they worked sufficiently. 

We invested $18,000 in renovations to modernize the property and increase its appeal.

Homes that appeal to our target tenant segment range from $320,000 to $475,000, so the supply of housing we target remains almost the same regardless of how many new homes are built.DemandPopulation growth drives housing demand.

By making targeted upgrades and ensuring the property was well-maintained, I was able to enhance its appeal to prospective tenants, thereby increasing occupancy rates and rental income.

Also, you must familiarize yourself with local laws and regulations regarding STRs to avoid purchasing in areas that are not STR-friendly, which could save you from legal headaches and poor investment choices.Another critical strategy is staging your home to appeal to your target guests.

The rent from 4 houses covered the mortgage for 5 over the last 18 months I’ve been dealing with an appealed eviction and the court collecting and holding the rent.Everything I bought rented for 1% to 0.65% of the initial purchase price (more now).

An additional benefit of a detailed engineering-based Cost Segregation Study is that it can increase potential insurance premium savings as well as provide support for the property tax appeals process.

I'm definitely the "play it safe" type, which is why the buy-and-hold strategy appeals to me, and because this is all new to me I want to "start off slow", but I am open to hearing thoughts on other options I could consider as well.Put simply, if you were in my shoes, what would you do with that capital and now with one property under your name (if buy-and-hold is the most appealing strategy to you)?