Renovation is the process of transforming a property to be more attractive to your tenant segment, thereby increasing the rent, decreasing time to rent, and reducing maintenance costs.Eric, this is a straightforward method for consistently selecting properties that will provide the dependable passive income you want.

Decrease your personal debt.

Decrease the degree of difficulty and increase your likelihood of success.I hope this helps.

However I do think housing cost will continue to increase and homeownership may decrease in correlation. 

The reality is that if I buy a property in today’s market, I should not depend on home appreciation to protect my investment; therefore, I need to ensure the rates I’m able to charge for STR rents will more than cover the mortgage.For those who plan to buy in the next few months, or that have purchased within the past 12 months, how will you or how did you go about analyzing your STR properties to ensure the numbers will work even if rental rates and occupancy rates decrease?

Opportunities will noticeably decrease or wholesaling will be an endeavor not worth taking on?

The inner city can be very blighted but as you move out to the suburbs the asset quality increases along with a decrease in the risk level. 

Are there any other creattive ways to help me decrease vacancy, improve occupancy, and get the highest price per night?

I have yet to decrease rents since I started buying duplexes in 2003.

If the lot is big enough, then a well-designed ADU (with their own private yard and entrance) should NOT interfere with the life of people living in the main house NOR should it decrease the quality of life of the people living in the main house.