Nicole Shirvani has built a diverse portfolio that includes both long-term and short-term rental properties, allowing her to balance stability with flexibility. Currently, she is undertaking an extensive renovation of a three-unit building, or triplex, which she intends to transform into a mid-term rental. Her approach demonstrates both strategic foresight and a deep understanding of how varying rental durations can complement one another. Each rental model—whether short-, mid-, or long-term—possesses distinct advantages and inherent challenges that require careful consideration from an investor’s perspective.
When discussing short-term rentals, Shirvani notes that such properties tend to generate superior cash flow compared to longer leases. However, that higher income potential comes at the cost of increased personal engagement and operational complexity. Short-term hosting demands constant attention: guests arrive and depart frequently, which means that cleaning, check-ins, maintenance coordination, and overall guest experience must be managed meticulously. As Shirvani, a licensed psychologist who invests in real estate in addition to her full-time professional practice, explained to Business Insider, there is simply a greater number of logistical details to oversee when managing short-stay accommodations.
In contrast, mid- and long-term rentals typically provide a more passive experience once the right tenant has been selected. After the property is properly maintained and occupied by a reliable tenant, the level of direct daily involvement decreases significantly. Yet, Shirvani notes that this convenience and stability usually come with a trade-off: the monthly rental income tends to be lower than what short-term rentals can produce.
Shirvani personally manages three vacation rentals—one located in the sunny state of Florida, where she also resides, and two additional properties in the scenic Shenandoah Valley of Virginia. She decided to add short-term rentals to her portfolio for multiple strategic reasons: diversification of her investment holdings, the potential for beneficial tax treatment, and her own creative passion for interior design. From a financial perspective, she emphasizes that certain provisions in U.S. tax law provide significant benefits for property owners actively involved in managing short-term rentals. These allow investors, under specific conditions, to offset their rental losses against other taxable income, sometimes informally referred to as a “short-term rental tax loophole.” Beyond the numbers, however, Shirvani genuinely enjoys the more tactile, creative side of hosting—curating appealing spaces that feel welcoming and aesthetically refined for families and travelers.
Her vacation properties have yielded more than just creative satisfaction. They have become a meaningful source of supplemental income, empowering her to strengthen her long-term financial foundation and allocate additional savings for her daughter’s future. Since the start of 2024, her collection of short-term rentals has already produced six-figure revenues, a figure she tracks through her Guesty management dashboard, underscoring the financial viability of her approach.
Before she purchases any new short-term rental property, Shirvani conducts a thorough analysis framed around several essential questions. She believes that posing the right questions at the outset of an investment can prevent costly mistakes and guide an investor toward high-performing assets. As both a full-time psychiatrist and a part-time real estate investor, she integrates analytical rigor and empathy into her decision-making process.
The first question she always considers is straightforward yet critical: “What’s nearby?” Shirvani follows the classic principle of real estate—the timeless mantra of “location, location, location.” She evaluates what attractions, amenities, or natural landmarks might appeal to potential guests. For example, she asks herself whether the property is adjacent to a popular national park known for hiking or whether it is conveniently located within a few hours’ drive of a major metropolitan area. Such accessibility is essential for short-term visitors, especially those seeking quick weekend getaways from city life. Her own Virginia rentals exemplify this reasoning: both are situated less than a three-hour drive from Washington, D.C.—one sits directly along a tranquil riverbank, while the other is tucked deep in wooded terrain near a ski resort, offering contrasting yet equally enticing escapes for urban travelers.
Her second guiding question concerns personal resonance: “Would I enjoy staying here?” Shrivani insists that an investor should feel genuinely drawn to the property’s atmosphere and environment. If she cannot envision herself relaxing or vacationing there, she views that as an indicator to move on. This philosophy ensures that her investments align with her aesthetic sensibilities and hospitality standards. When choosing her Virginia sites, she purposely reflected on what kinds of retreats she personally finds rejuvenating and aligned her purchases accordingly. Moreover, she explains that investing outside one’s home state, often intimidating to new investors, need not be complicated. Rather, familiarity brings confidence. The more extensive her research into an area—its market trends, tourism cycles, and community characteristics—the greater her comfort in executing an investment there, even without constant physical oversight.
The third question she poses addresses a crucial logistical factor: “What are the local short-term rental rules?” Regulations governing Airbnb-style properties can differ considerably from one jurisdiction to another, making research an indispensable part of the acquisition process. Shirvani warns that overlooking zoning laws, permitting requirements, or community restrictions can jeopardize a property’s profitability. To thrive within the vacation rental market, she emphasizes, an investor must possess a deep understanding of their target market’s legal and consumer landscape alike. Success in this niche depends on recognizing what travelers desire, designing spaces that meet those expectations, and building a dependable on-the-ground team to handle issues promptly. Because short-term rentals essentially place hosts in the hospitality industry, Shirvani believes that thriving in this sector demands a service-oriented mindset—one that values attention to detail and consistently goes beyond guest expectations.
Through this deliberate, question-driven approach, Nicole Shirvani demonstrates that profitable property investment is not the result of chance but of thoughtful strategy and an ability to blend analytical precision with creative passion.
Sourse: https://www.businessinsider.com/airbnb-host-how-to-select-a-short-term-rental-property-2025-10
