Lessons Learned - Buying with a clear strategy, using available benefits to lower upfront costs, and focusing on high-impact upgrades can significantly boost value.Challenges - Balancing renovations with daily life while working full-time and managing our first rental came with a learning curve, but it built our confidence for future deals.

Here’s what stood out:Performance – 4–5+ Bedroom Homes:Average Annual Revenue: $102,900Occupancy Rate: 65%Average Daily Rate (ADR): $499RevPAR: $324.93YoY Revenue Growth: +14%Inventory Share – All STR Listings:1 BR: 22%2 BR: 19%3 BR: 34%4 BR: 18%5+ BR: 7%That means 75% of the market is made up of 1–3 bedroom homes, while only 7% of listings are 5+ bedrooms — and that small segment is hitting the highest revenues, ADRs, and occupancy rates.Bigger homes are attracting families, wedding groups, and football weekend groups — but competing with far fewer properties in the same category.If you were buying in Tampa Bay today, would you stick with the 1–3 BR space, or target the bigger homes?

Lessons Learned - Buying with a clear strategy, using available benefits to lower upfront costs, and focusing on high-impact upgrades can significantly boost value.Challenges - Balancing renovations with daily life while working full-time and managing our first rental came with a learning curve, but it built our confidence for future deals.

Quote from @Greg Francis: Titan has been terrible so far for me, its been a week and they still havent opened the account even after they had everything and it was prepared by attorneys they work with daily, any other suggestions?

My daily rates and ROI don't go up at the same level as the rise in value so if you own a property for a long time, your ROE will continue to drop but that doesn't mean it is a bad investment.There is a lot to unpack in that list and I could go on forever on it.

But if there are enough bedrooms or you get multiple homes, you will be able to support hiring a local manager to manage daily operations. 

The rate can change daily, so this is just an example, and the interest rate varies by your credit score and the term of the loan.

My favorite guys will send daily photos by text to show progress, and involve the long-distance owner in all decisions as the work progresses.3.

Market Analysis Tools: Utilize platforms like AirDNA to research market trends, average daily rates, and occupancy rates in your target areas.Financing Options: Explore various loan options beyond conventional mortgages, such as DSCR loans, which focus on the property's income potential.Networking: Connect with other investors through forums like Facebook Groups and industry conferences like the IMN STR Forum to gain insights and find potential resources.Legal and Tax Counsel: Consult with local attorneys and tax professionals to navigate zoning regulations, licensing requirements, and potential tax implications of STR ownership.

I now offer "limited service" as a PM for 10% which includes marketing on 20+ channels, 24/7 guest communication, daily pricing, automations and software connections, but it is 10% of revenue.