This not only preserves the value of your investment but also enhances its profitability over time.Also, I'd like to emphasize the importance of understanding the local market dynamics, which will help you make informed decisions about where to buy, what to buy, and at what price.

The best way to develop a solid SOW is this - you start off with what you are visualizing in your head, send drawings, pictures and products that you like.

Are you using a dynamic pricing tool or checking your competition on AirDNA or Airbnb?

It’s really helpful to hear about the neighborhood dynamics in Buffalo.

Get listed on all the OTA’s and a direct booking site, use good management software like HostAway, use dynamic pricing software like pricelabs, use WiFi enabled smart locks like Schlage encode, use an email capture system for guests to login to WiFi like stayfi, use those captured emails to do marketing for your direct booking site, and automate scheduling and payments for cleaners and maintenance.

Build a strong team, including a knowledgeable realtor, lender, and contractors, and spend time understanding your local market dynamics, especially in areas like Orlando or Tampa where demand is strong.

That + reading Start with Strategy and filling out the accompanying workbook to help me actually visualize and write down my goals with a plan has really helped me a lot! 

We’ll use these as visual aids in our presentations to investors, during dispo of fix and flips, and for our property managers to show prospective out-of-town tenant leads. 

What are your thoughts about these types of relationship dynamics?

I completely understand your point about pricing adjustments driving faster leases, but my experience has shown that other factors play a significant role in a rental's performance over time.For example, I own three rentals with very different dynamics:1.