Since hard money eats into profits, consider private lenders, local banks, or partnerships for lower-cost funding.

Typically to grow a real estate business and raise money you are better off partnering with someone.

I’ve read Kiyosaki’s books, too, and they completely shifted the way I think about money and investing—such a game changer.

Personally, I would keep the property but I don't know your situation and if you could better use the money elsewhere.

Yes, having tenants pay ACH via a Tenant Portal software is best, but not all will cooperate and some will play games that result in NSF charges.We allow tenants to deposit cash/check/money order directly at our bank into our account.Many Class C & D tenants have challenges adapting to unfamiliar ways to pay and is often not worth the hassle (and possible evictions) to get them to change:(

I have a lot of personal experience with BRRRR—both from building my own rental portfolio here in Memphis, TN and from helping both local and out-of-state investors successfully scale their portfolios using this strategy.One of the biggest advantages I’ve been able to offer my clients is structuring deals with hard money lenders in a way that allows them to acquire properties with less than $10,000 out of pocket in most cases which results them in massive cash on cash returns!

So you may actually be able to make more money with much less effort if you did convert this to a long term rental.I am very active in the market here in helping people from out of state buy and sell condos.

(cost of buy-down in dollars / monthly savings vs the free loan = # of months it would take to recoup the money spent). will you keep the LOAN at least that long?

Double coverage seems like a waste of money to me and a possible finger pointing fiasco if a claim happens.

Don't underestimate how much money you could spend when you're trying to get an airbnb ready. making it unique is very important, and it's very easy to overspend!