There are many factors, as with any real estate market:(1) Location. 

Are you not charging the guests a cleaning fee?

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

Treat this property as a business and factor in all the associated expenses, including mortgage payments (if you pull a loan), maintenance, and potential vacancy periods.To simplify management and make this less of a hands-on job, I’d strongly recommend working with a property management company.

Quote from @Edward Toomey V: I switched from Quickbooks to RentRedi 5 months ago because the payment processing fee cost me $400 a month with Quickbooks.

From my understanding, as long as you intend on doing a STR when you close, there are no rules against changing your strategy after closing, especially if you find that something else is more profitable.So in our case, the lender determined an STR would bring in ~$3500/month (with all of their conservative factors), but now that we operate it as a huge 3300 sqft Co-Living property, it actually brings in $7000/month.

Several key factors contribute to Buffalo’s sustained real estate prominence:1.

I a factoring in the replacement of the AC unit and potentially the water heater, and the cosmetic thins (I would do myself) to get it to rentable standard.

Property management fees and software subscriptions are deductible, and depreciation reduces taxable rental income.This post does not create a CPA-Client relationship.

My real estate agent thinks I'll only get 1.1 million for my home but due to a few factors I think it should be more. 1.