The other challenge is selling it, there is a smaller buyer pool for hospitality in a small market but that was known going in Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

This year, I’ll be sharing tips, insights, and lesser-known strategies to help you turn your housing allowance into an asset.

Quote from @Paul Whitehurst: Many will tell you to borrow money from Property A to purchase Property B, but that's known as over-leveraging and not recommended for a newer investor.

A local property manager will make this much easier and handle the visits for you.Single-family homes can still do well, even with more apartments popping up, as they cater to tenants who want privacy and space.

Hey BiggerPockets Fam!My name's Cody, I have been listening to the podcast for years, and I've read all the books. I'm a single father, been raising my two daughters since they were born, and am ready to start buildin...

I've done this with my properties because I'm well known in my small town and don't want people to know what I own.LEGAL PROTECTION: By placing your assets in an LLC, you are legally separating them from your personal assets.

According to your numbers, I would say to keep it as a STR but as a few others have said, look at different vacancy rates as well management fees.

Income approach Also known as the rental income approach, this method estimates the market value by analyzing the property's anticipated future income and converting it to a present value estimate.

Follow the step for the deposit-even if it is to send a registered letter to their last known address stating that the deposit was used for outstanding rent and whatever damages or cleaning was needed (itemize it). 

With regard to renovations, I always suggest taking incremental steps to bigger renovations or partnering with someone who has already done a renovation at that level.I've been known to just go for the big rehabs for my personal investments here in Chicago , and during that process, it's always more stressful than it needs to be...As far as navigating the competition, I've found the best thing I can do is get EXTREMELY CLEAR  on what I am looking for; then I am confident pulling the trigger quicky.