Additionally, ask for copies of all tenant leases, any recent inspection reports, and records of capital improvements, such as repairs or renovations.

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I've been watching YT videos about what to do when you don't get enough inquiries via FF...I'm still finishing up some improvements at my place so I haven't listed it yet.I've asked a family member who is an RE attorney (but does not have experience with STR/MTRs) to look over my lease.

However, if you’re comfortable with the expenses and prefer to hold, you’d continue building equity, but it may take a while for cash flow to improve.

These improvements significantly increased the property’s market value and rental potential, attracting premium short-term rental rates and ensuring high occupancy.

How do you deduct "improvements" such as a room remodel in the rented unit.

These types of improvements increase your house hacking income. 

[crawling into my office closet while alternating between sobbing and laughing]  Haha it's actually such a big improvement!

If you're willing to hold the property and make some cash for the next 5 years or so you could see a big profit down the road or just refinance into a much lower rate and improve your cash flow!

I'm thinking of offering $450K (cash and bank loan), make improvements as leases end, and then refi and increase rents as necessary.