For those with multiple short term rentals, what is your end game?
I looked into STR for tax deferral advantages and got excited. Then I learned it has to be paid back when you sell the property. Sure you can 1031, but you still aren’t becoming liquid…so it appears that you essentially will be building wealth through equity in real estate that you can’t ever sell. Few properties appear to cash flow enough to make it worth it & getting a promotion at work is more sizable. Break even gets you the appreciation, but you need a good 15 years into a 30 year mortgage to have a sizable return worth the amount of work (Pigeon Forge properties are primo STRs and seems to be appreciating at only 4-4.5% per year on average)
So my question for those who have short term rentals…
What is your personal end game with your STRs?