Stay away from Evolve, Vacasa and the other large players.

High interest rates are preventing existing homeowners from selling, so Buyers are turning to new construction homes.

I will throw DJT back in the 80's with his version of junk bonds, I mean syndications (as they are now called for the smaller players).

Below you can find a quick FAQ sheet of the updates they have implemented and will be implementing soon.Quick Overview: - The cost of application fees has increased- Platforms will remove listings without legitimate permit numbers- Platforms will have to remit the Hotel taxes directly to the city of San Antonio (Operators still have to file revenue reports monthly)- STR operators can change the operator of the permit without a new application being required (it seems the permits are still non-transferable upon sale, however)- Updated Party Prevention measuresMy Take:This should weed out some hosts that have not been abiding by the permit requirements.

Next time, consider implementing a RUBS system to prevent this issue from happening again.

At least I know it's sitting on their credit report and preventing them from harming someone else.

If they refuse to leave, you can evict them, which could show up on their credit report and prevent them from buying a home for the next seven years!

Moderate rent bump this year has prevented it from going down any further.- It's been well kept- Between transaction costs (e.g. broker fees, transfer fees), capital expenses, tax recapture I would need to sell it for $1.9M to break even.-  At it's height (2022), it could have sold for but $2.7M. 

I'm looking for ideas on how to handle a potential bust cycle and prevent it from blocking my progress towards acquiring a second property.

You will have essentially ruined their lives and prevented them from ever doing this again to another innocent Landlord.