N
icole Shirvani balances a full‑time medical career with real‑estate investing. She owns a mix of short‑, mid‑, and long‑term rentals, currently renovating a triplex she plans to lease on a mid‑term basis. Short‑term properties generate higher cash flow but demand more hands‑on management, while longer‑term units offer steadier income with minimal day‑to‑day involvement.

    Her portfolio includes three vacation rentals: a Florida home where she lives and two in Virginia’s Shenandoah Valley. The Valley properties sit within a three‑hour drive of Washington, D.C., and are located near a river and a ski resort, making them attractive weekend getaways for city dwellers. She chose these sites because they appeal to her own tastes and offer strong tourist demand.

    Shirvani added short‑term rentals to diversify her income, take advantage of tax deductions that allow property‑related losses to offset taxable earnings, and indulge her passion for interior design. “I enjoy creating welcoming spaces,” she says. “The tax loophole lets me offset income, and the design work keeps me engaged.”

    Since January 2024, her short‑term rentals have produced six‑figure revenue, boosting her savings for her daughter’s future. She monitors performance via the Guesty dashboard, adjusting pricing and amenities to maximize occupancy. Before purchasing a new short‑term property, she asks herself several key questions:

    1. **Location** – Is the area attractive to travelers? Proximity to national parks, cities, or recreational spots matters. “Location, location, location” remains the guiding principle.

    2. **Personal appeal** – Would she enjoy staying there? If the place doesn’t excite her, she likely passes.

    3. **Out‑of‑state feasibility** – Investing remotely can feel risky, but thorough research and local knowledge mitigate uncertainty.

    4. **Regulatory environment** – Are short‑term rentals permitted? Rules vary widely; compliance is essential.

    5. **Market understanding** – Knowing local demand, design expectations, and having a reliable on‑site team are crucial for hospitality success.

    Shirvani’s approach blends strategic diversification, tax efficiency, and a hands‑on design philosophy, allowing her to maintain a profitable real‑estate side business alongside her medical practice. The triplex renovation will capture mid‑term demand, balancing cash flow and lower management, while her existing short‑term rentals continue to deliver strong returns.