No regrets...owning and operating STRs is like managing a sports team.

Here are a few things that might help you as you start:Understanding the Market Dynamics: Begin with understanding the supply and demand in your area.

We supply loan quotes all day long to investors that buy & rehab 1-4 unit properties and 5-10 unit properties (including mixed use in all of those unit sizes).

Operators of very small homes are taking home strong 6-figure incomes.It's essentially recession-proof as the supply of aging baby boom seniors needing care will be in place for the foreseeable future.Residents of an ALF are generally in need of assistance with "Activities of Daily Living", called ADL. 

I do supply the 1" light-filtering miniblinds from Lowes (Project Source) - and yes, they get broken pretty easily, but I charge for their replacement on turnover if they are damaged, as @Kenneth Soles does.With the blinds installed, the units show better, create some opacity to thwart people trying to ascertain if the unit is vacant, and provide some privacy once the tenant moves in.

It's easy to say you'll raise rents to market rate but pulling that off can be difficult in softer markets with supply/demand dynamics without causing temporary vacancies, which leads to new TI's and other lease incentives to refill the space.I'm sure you have an investment strategy for the replacement property, and that should include which markets you are looking to reinvest in.

And with Months Supply of Inventory ballooning by 54.5 percent to 3.4 months, buyers might finally catch a break to make their move.What’s Fueling the Fire?

Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away.

Waking up at 6am to conduct repairs before work, staying up until 1am after work showing properties, buying supplies at Depot/Lowes, repairing more properties, and calling back applicants since no one in D-class has/uses email, ever.Confronting the realization that no screening any PM will ever do can filter out for populations that live off the grid and outside of traditional credit markets. 400-500 credit scores are expected, past landlords that were unreachable, and jobs that were often cash money with little/no documented receipts. 

- Are the markets likely to experience the most rent and price growth going forward likely to be:     - Markets with the lowest supply coming online    - Markets with the best schools    - Markets with the lowest crimeAnyways - food for thought!