I really enjoy running the STR, providing great value for our guests and ensuring they have an excellent time.

My biggest suggestion is when you find your right location, don't be afraid to pull the trigger.It sounds like you have some capital for a down payment so that is positive.

My suggestion is to do manual research on Airbnb for similar comps and see their calendars and listing amenities.You can also use AirDna and pricelabs to see top performing listings and what amenities they have.The assumption is that this should boost bookings and ADR.

Go find an excellent investment savvy agent and get to work!

@Dominick Preyer, I'm not a lender, and I suggest you speak with one to gain further insight.

To earn passive income through short-term rentals, investors should ensure their rental rates are competitive, provide excellent customer service, and maintain a well-appointed and well-maintained property.6.Flipping HousesFlipping houses involves buying a property, fixing it up, and selling it for a profit.

I highly suggest teaming up with a broker who truly understands the ins and outs of different underwriting guidelines.

I would suggest looking at Furnished Finder (https://www.furnishedfinder.com/housing/New-York/New-York) to see what type of MTRs are listed in you area as well as Airbnb and VRBO for 30+ day stays.

Through out my tenancy i passed with flying colors as an excellent tenant. 

I would suggest for your first acquisition to "house hack" and buy a primary residence that you can get preferred financing on and also make some income on.