You would want to employ strategies like 3 or more night minimums to encourage week long bookings and weekly discounts.I would actively adjust prices to maximize revenue. 

When you have a proven track record of success, then you can use that experience to encourage others to invest with you.

@Hamp Lee III, Thank you for the words of encouragement and different approaches and using your experiences to help give me a good idea on what I can do as well. 

I would encourage you to explore keeping it.  

Being appraisers, we are familiar with estimating "cost to cure" of deficiencies, and we know useful life of short lived items so we can build seller credits into our offers that will help mitigate monthly costs to us for reserves.We are going to take it slow and steady, as I said, with an eye on returns that may not be spectacular but still rival the stock market in a sector of the economy we know well.Thanks for the encouragement @Dave Meyer!!

Note, of course, that this opinion is coming from a place of the very limited information you supplied in your original post but on the face of it living for $1500/mo in a decent neighborhood seems decent to me.That said, I would encourage you to look at this more long term.

@Adam SchneiderRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder, etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

The only folks that would encourage this strategy would be a lender with something to sell or someone that is not an operator that had to scrap and stress his/her way to success like most of us.

@Kyle BrownRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder, etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

Much thanks and Blessings to you for your encouragement...