What are your thoughts considering I could increase rents and wait for rates to drop and when that happens refinance again and realize much bigger profits It sounds like you have a solid portfolio of properties that are generating good cash flow for you at the moment.

The first Class C was supposed to cash flow positive - closed on it in 2023. 

There is a one car detached garage at the back of the property.I'm an absentee owner that rented this home out for 11 years with a management company and now I'm in the process of renovating it.When I'm done with the project in a few weeks, I would like to 1031 exchange it into another cash flow property possibly in Indianapolis IN, but I'm open to other active markets.

For example convert to STR or MTR for your unit to increase cash flow?

I want to clean it up, get good renters in there and improve the look and value of my neighborhood and have it as part of my retirement portfolio.  

Your question makes me want to check my state rules (Illinois), because I've thought many times that I might as well manage other people's STRs if I have all the processes set up to manage mine anyway.Finding a cleaning crew for 1 STR is difficult, but 5 is easy. 

I am able to cash flow about $1500 a month on this prop at the moment.

Does your current rental property not cash flow positively?

I havent been able to find anything in my area that pencils out as cash flowing in a LONG time.... but places are still selling fast and above ask, so maybe I'm missing something

It steam cleaned up great between turns.