I lucked out big time and only paying $720/month all utilities in a decent area.

Break expenses into clear buckets like repairs, capital improvements, insurance, taxes, utilities, and management.

Now, though, I have 25 years of data engineering and working with software engineering teams behind me, and these last 4 years I fiddled with modern open-source software like PostgreSQL for db, D3.js for interactive maps and analytics, CSS and SASS for elegance.

In Texas, landlords are not legally required to be responsible for utilities, etc.  

New builds are avoiding many of the hidden problems older STRs have (layout, ceiling height, insulation, utilities, parking, etc.).Rough numbers I’m seeing:Buy: $500k–$600k all-in for something that might gross well if it’s dialed in. 

What they require at move in, deposits, renters insurance, condition reports, photos, utilities, all of it.Once you see how much goes into doing it right, you may decide self managing isn’t worth the risk or time and just hand over full management.

Whether you want diversification or consolidation, there are different strategies you could utilize the 1031 with.

The guest home has been rented for $1,545 (not including utilities) since May 2025.

Quick checkpoint run your true cash needed to close plus 3 to 6 months of carry and a 10 percent rehab overrun reserve, then make sure your projected profit after interest, points, utilities, insurance, taxes, and realtor fees is still at least 15 to 20 percent of total project cost or you are taking all the risk for free.

Before you go and pay for ANY kind of advertising, make sure that you're utilizing all of these free sites where you can list:- Zillow- Avail (Realtor.com network)- Apartments.com (they have a bunch of websites under their brand... hotpads, etc.)- Zumper- Facebook Marketplace- Craigslist- Redfin Rentals- Rentler- State Housing Search Sites (some states run free housing search portals)Next, I would take a look at the use of your property.