Are you wanting cash flow today or more of an appreciation play?

I would say when you have significant assets to manage, kids to consider and things like trusts, life insurance and other vehicles come into play.

I've got 28 units here that I acquired through the brrrr strategey, house-hacking, dscr rentals on equity plays, and through raising capital. 

Tighten up the expense assumptions, confirm your stabilized appraisal, and it looks like you’ve got a nice value-add play here.

The best way I've seen is to write up a management agreement structured as more of a "consulting" from the manager to qualify.Why This Matters in the STR GameHere’s how this plays into your STR strategy:You buy a house (say a 4-5 bedroom chalet near a lake, ski resort, beach etc.).

This can make sense if you buy right and capture immediate equity or if there if it is a great value-add play, in my opinion.

You don't need to hit a grand slam in your first at bat in order to play the game. 

In North/Central Jersey, verify rents with a PM before offering, stress‑test taxes, insurance, and HOA rules, and keep two exits in play: long‑term rent or sell if numbers shift.

I’ve also been analyzing multifamily deals with fewer than 5 units, potential single-family short-term rentals, and studying a few different markets to see where opportunities might make sense.I really want to use this time wisely instead of playing catch-up later, so what else can I do to prepare myself for that first deal?

Location will play a big role in whether to move forward at all.