I plan to do the normal background/credit checks, get references for the tenants, etc like I usually do.

This is why I never fill a vacancy until the unit is vacant because often times tenants have last minute changes in their plans and an average tenant may not have the ability to make alternate accommodations.If you are using the PA lease provided to realtors, check out paragraph 21 about holdover tenants.

I haven't set specific targets beyond this initial goal, but I may aim to increase my passive income to $5,000 or $10,000 per month in the future.Current PropertiesI currently have two properties:The Loft:This property is rented out long-term and generates around $300 per month in passive income after HOA and management fees.The loft has approximately $100,000 in equity.The House:This is a brand-new build (2024) that I'm currently occupying through house hacking.I invested $70,000 in the property, which means I have $70,000 in equity.My plan is to convert this property into an Airbnb or long-term rental within the next two years.Short-term rental comps suggest I can earn around $3,500-$4,000 per month, while long-term rental comps indicate I can earn around $3,000-$3,300 per month.Seeking AdviceGiven my upcoming financial situation, I'm seeking advice on the best course of action.

If you plan on using your GI Bill, great!

I am looking to build a SFR for short-term rental, would be my first-time new build.I have engineer plans for well and wastewater stamped by the state of VT for up to 4 bedrooms.

Looked at Colorado Springs and a few other places, but fell in love with Raleigh for the trees, access to both mountains and beach, and STR does really well here.

Please reach out if this is an investment property, and you plan on purchasing to flip or refinance within 12 months.

The BRRRR strategy is also well-suited, allowing investors to acquire, renovate, rent, and refinance properties, capitalizing on the area's affordable prices, high rental demand, and potential for forced appreciation.Fix-and-Flip vs.

I don't plan on expanding my portfolio, is it even worth getting an LLC?

Hi @Lynn Gupt, just echoing Ko's input above, as well as offering my perspective from a multifamily development point of view.