Daniel, to clarify a few points:- The $4,500 quote was for *both* the initial purchase and a $100K renovation, representing two distinct scopes of work requiring engineering analysis.

Due to the rate and my love of the location, this property is a long-term hold for me as I could see my family using it in retirement.My initial thoughts are either a HELOC of Home Equity Loan.

The implication being I have a lot more STR experience than MTR experience, but do have some MTR experience.All our new units or at change of management of existing units, we offer an initial discount to get traction.  

For a first rental, simplicity often winsMany newer investors skip an LLC initially and focus on:Proper insurance (good landlord + umbrella policy)Clean operations and bookkeepingAn LLC doesn’t replace insurance, and for a single property, it doesn’t automatically create bulletproof protection.3.

• Any structures you didn’t initially consider but ended up working well?

I know repairs can start costing more than the initial estiamte, especially if one is just starting out.

When I initially hired this PM I had a person on the ground in Cleveland who was great, but she left them last august and since then I believe they have been trying to manage mine and other properties they have remotely.

My initial thought would be to do the refi now and be prepared for anything. 

Markets with initially best LTR cash flow have the worse appreciation and rent growth outlook.  

We had a hardware supplier provide us with the initial setup after meeting with them for grand master, masters etc.