My primary residence also has an apartment I am preparing as an STR. 

Found it through my marketing efforts, and I wanted to do more land deals.

@Pradeep RoyI'd prefer LVP, but that certainly wouldn't be an issue for me if my overall numbers/returns on the deal met my criteria.

I bought it sight unseen as I viewed it as a small development project, did my due diligence up front and didn’t really care about the state of the house.There were 5 offers on the property to which I ended up knowing a few of the other bidders.

I recently went through finding a new tenant for my property.

It is not much larger than my tankless, but my tankless is fairly large compared to many.  

Hi.I'm still in my first year as a STR owner, and I'm going to start taking bookings for next spring/summer/fall for our lake house.  

I’m here to learn and start my REI journey while hopefully meeting some like minded people along the way. 

first thing one should do is figure out if they quality the 2  in  5 tax treatment and if the home has appreciated a ton like 250 to 500k which is very common in coastal markets and Denver for instance.. selling would be far smarter than renting. pocket the tax free and find another rental. turning it into a rental you lose that one time tax treatment which in my mind is the very best for real estate. 

Hi Alecia, thanks for the practical tips.