Knowledge is power, but when you are physically in the situation, you are forced to act and need to find a way to make it work!

I purchased my second short term rental in 2021 in the Gatlinburg area, initially when i purchased numbers looked great and property started renting out immediately and was consistent for all of 2021. 2022 i started to get overwhelmed with guest comments or complaints and ended up putting it with a property management company.

I am honestly a bit overwhelmed by all of this, so I am seeking any insights that anyone can offer here on BiggerPockets.

People make the mistake of striking a deal with the beneficiary thinking that they have power because at some point they’ll either own the property or reap some benefit from the property.

They cut all the power lines.  

Be very careful though because if you still have a letter from 3 months ago your purchasing power may have decreased.

One of the best piece of advice I recently got is that knowledge is not power.

@Cassandra Lesa hi cassandra, rent by the room is all that i do. there are local ordinances (normally) to watch out for. for example, they may limit the number of unrelated people in each unit to a certain number. if the limit is 4 and you have a 3 bedroom single family (one unit), that would not fly with the town. however, if you can pull off this strategy, it is worth it and very powerful. i am always happy to help. i also write for the BP Blogs. i have written several articles about the benefits and pitfalls of this strategy. 

We learned to get creative in our bidding and the power of persistence and believing in your ultimate goal.

Facebook can also be STUPIDLY powerful for selling flips, networking (which you should be doing on Biggerpockets as well), and generating motivated seller leads.