In the upcoming year, we are getting roommates to help with expenses while continuing occupying as primary residence.

Get it off your hand with minimum headache and take notes of the expensive lessons.

Cap rate doesn't apply that well in this business because expenses can skew the numbers greatly.

Everything is more expensive when you hire a professional vs.

Shoot for $25-50 - cheap enough that moving will be more expensive, yet less than the old rent he will be expecting.

Reduce your expenses.

Since you own the LLC / Land Trust, provided the activities you performed to earn material participation hours meet IRS requirements and the STR meets IRS requirements, then you should be able to offset non-passive income (W-2, 1099, etc.) with losses from this STR. ...

Now, 7-9 years later, we're cash-flowing about $500/mo after all expenses.

Currently, I reside in Washington State, but I am keen on investing in the Houston area.I have noticed that many properties have become quite expensive.

This has put a cut on our cashflow and we have had some major expenses, like a new roof,  water heater, bathroom remodel, and kitchen remodel all done at the 3 bed house.