Hi all — My wife Ashley and I are exploring purchasing a turnkey, already-operating short-term rental (Airbnb/VRBO) before year-end.Target budget: <=$300,000Preferred markets: Tyler, TX or Little Rock AreaMust-have criteria:• At least 12 months historic payout data (Airbnb/VRBO)• Furnishings included or negotiable (already in operation)• STR legal / permitted (HOA or city OK)• Good guest-review profile (4.7+), low guest-drama neighborhood (we’d stay there ourselves)• Timeline: Clean close, turnkey transition, quick start.We’re not just dreaming — we’re ready to move quickly if the right property shows up.

Scope of improvements included:Full interior updates: new flooring, interior paint, lighting, granite countertops, and updated appliancesAddition of high-demand short-term rental amenities: game rooms, custom bunk beds, hot tubs, swimming pools, and putting greensProfessional interior design and full furnishing to optimize guest experience and nightly ratesThese improvements were executed with the objective of maximizing long-term performance, increasing appraised value, and creating differentiated offerings within the Hot Springs vacation rental market.Refinance & Financial PerformanceUpon completion of renovations, we partnered with a local commercial lender to refinance the portfolio.Combined appraised value (ARV): $2,601,000Approved loan amount: $2,200,000 (cash-out refinance)After retiring the hard money loan, the transaction resulted in a net cash return of $300,470.51, which represents $118,181.09 more than our original down payment—effectively removing all invested capital from the project.TimelineThe full cycle—from acquisition through renovation and refinance—was completed in 174 days.OutcomeThe result is a portfolio of three fully renovated, amenity-rich lakefront properties, each now positioned to perform as premium short-term rentals with strong long-term appreciation potential.

So if only one of the four units is being rented out short-term and the other three are long-term, the overall average guest stay for the building would still exceed seven days—meaning it likely wouldn’t qualify as a short-term rental activity for the STR loophole.

You’re definitely doing the right thing by learning first before diving in.A couple of books I’d recommend are “Short-Term Rental, Long-Term Wealth” by Avery Carl , really helpful for understanding how to choose and run your first STR and “Optimize YOUR BnB” by Daniel Rusteen, which has tons of practical tips for setting up and improving your listing.If I could share one piece of advice, it would be to really dig into the local regulations and guest demand in your area early on.

In the area we operate first month rent is a lot of money that guests do not want to have tied up.

Most new STR owners don’t realize how much the way a property is classified can impact their tax outcome.If you’re actively managing your rental, responding to guest messages, coordinating cleaning, setting rates, handling maintenance, and keeping things running smoothly, your STR income can be considered non-passive.

When most people get excited about starting an Airbnb or vacation rental, they jump straight into the fun parts:Furniture shoppingChoosing paint colorsCreating a themed designUsing pricing toolsLearning how to respond to guests quicklyThese things matter.

Multigenerational buyer (parents/kids/guests with privacy)3.)

However, if you buy an STR right now, in November, you very likely won't have enough time to place it in service this year and have two guest stays before the end of the year.

Giving the guests their cell phone # would have yielded a much better result.