See that on the BP Blog here: https://www.biggerpockets.com/member-blogs/15226/105397-rent...Also, a general note, luxury apartment building supply suppresses rental prices at all level levels (A-C class).

Because you could simply find a great vacation property manager, and pay them a commission to run the property - so why go with some schmuck that crawls off Zillow?

These can accelerate deductions, reduce taxable income, and help you reinvest those savings into more properties and maybe help fund that vacation rental.

I am concerned if tenant vacates (who is original tenant for last 6 years ever since i bought this property hoping she will extend lease which is coming up in 4 months from now) it will be bit hard to take care of mortgage for many months from money from my pocket.

Factors will apply such as showing income, Credit score qualifications, PITI reserves, and some other simple items.You also have programs for either Vacation Home or Second Homes that only require 5% down and the home can still be rented.

You can set minimum stays (30+ days) to filter out vacation traffic.Corporate Housing by Owner (CHBO) is niche but worth a look.2.

When a tenant is on a month-to-month lease, depending on the state, the seller would have to give them 30+ day's notice to vacate the property.

Airbnb does fill our smaller units and more urban units better but some of the other platforms are better on our beach and luxury units.

As an STR, do your diligence for the area and don't kill profit by vacationing there.

Take your time and be very thoughtful because you don’t have the luxury to be able to afford to make many mistakes.