Simultaneously, you want to look for good contractors in all areas of renovations to keep your contractor pipeline strong.

We have a relatively strong income coming in from our full time gig and it's time to let our money make more money.We were initially looking at single family residentials in our area, and lost 2 offers we put in, because the money wasn't right otherwise, which we are totally OK with.

Line of CreditPros: Reevaluated every 2 years, extra payments can increase line (can set up sweep account), mortgage payments stay lower if line isn't utilized, keeps strong relationship, can be everlasting source of cash.                             

For an appreciation play I think it's still a very strong market (probably the strongest of those mentioned), but if you're looking for immediate turn-key cash flow you can probably strike it off the list.

@Bradley Strong II, welcome to the BP community and STR game!

Hopefully it is bringing you some strong cash flow.

If you have a strong team of folks near the property (ie. handyman, HVAC repair, plumber, etc.) then yes, it can be managed remote.

I am certain that we can find something local that can work, it may depend on if you have specific criteria you need for bedrooms and location.Generally though, if you don't have a strong financial position, most people opt for cash flow first.

Many of the money-greats have been adamantly against diversifying because they wanted to focus their efforts into one arena, or just a few strong channels.

John has the largest presence here in San Diego.