When we create our business plan, we also include our exit plan.We'll only proceed if we can clean this up, acquire new tenants at higher rents so we can increase our NOI, which in turn should reflect our cap rate and profits.Since this asset class is new to us we will tread cautiously.Scheduled to preview tomorrow. 

Here's my take on the decision:First, let’s look at the pros and cons of paying off your current short-term rental (STR):Paying Off Your STRPros:-You Eliminates your largest fixed expense (the mortgage), which increases your cash flow significantly.

Despite the storms in W FL we are seeing YoY rate and occupancy increases 24-25.  

This was in a middle class neighborhood and I get why that is less risk however with apartments increasingly including laundry, I would imagine demand lessening in that location. 

It is amazing how many times I have seen the cash flow represented as rent - PITI and to compound the issue they did not realize the ADU would increase their property tax.   

There is only a $3 difference increase to move to RentRedi, but the customer service is amazing.

I recommend you do this annually to adjust for utility increases and other variables.

My spreadsheet also includes FMV of every property so I can monitor appreciation, year over year comparison of tax & insurance increases, current rent & last increase & last amount, etc.

These rules have increased risks by making it difficult to get rid of poor tenants that pay their rent.

Typically its done for open space or use for community property (ie. fire station location or other county use) and typicaly would assist in increasing tax base.