I use TenantCloud and pay for the highest plan due to having 4 users on the account.

I always run my STRs with LTR rents also, as my back up plan if cities change permits or cause me to switch to LTR 

This is why having a SOLID plan in place is essential.401(k) - My partner utilized this for our initial round of funding.

Are you planning to invest locally in New York, or are you open to investing out-of-state?

Make sure you don’t put yourself in a position to lose the $2.4m if it’s part of your future plans. 

I have invested in syndication deals, completed fix & flip residential, I currently own one STR in Mesa, AZ, wholesaled residential properties and small residential developments after completing preliminary planning, built a duplex for rent from the ground up, etc.

Educate yourself on the local market, network with other investors and agents, and always have a solid plan in place before making any investments.

We just refinished renovation and requested our final draw, which went to plan.  

Plan to sell all POHs, seller financing, or cash sales.

I know that the area has more plans for expanding so I think finding renters would be in my favor if I were able to find a rental home.