It is very much case-by-case and requires understanding of the current regime for personal itemized deductions, as well as gambling on the proposed changes to this regime by the current administration.

Sold at a profit in a bidding war.Lessons learned?

Diving deeper.. check who’s on their team, how they structure their deals, and whether you’re comfortable with how the profit splits work.

More like  2X to 5X the cash out.. these are done with builder developers on their deals So put out 300k get 300k back in profit plus the interest rate. most small builders/ developers need to have a equity partner so you just do both you lend the money and are the equity partner.. pretty clean..

This deal showcased our streamlined process and Erika's keen market insights, resulting in a swift transaction and a substantial profit.

.: Quote from @Theo Hicks: In ideal conditions:Pref equity receives higher ongoing distributions but no profits at saleCommon equity receives lower distribution and profit at sale (assuming their is cash flow left over after pref equity is paid and assuming their is profit at sale.In non-ideal conditionsPref equity may receive ongoing distributions less than pref, or no ongoing distributions at all, but the pref accrues.

was there an agreement between you and your parents that they should share in the profits / losses of the airbnb / property.If there was an agreement, they should also be included in the LLC.It is best to discuss this all with an attorney.Best of luck!

@Puneet Mahi,Property management can certainly be a profitable business, but it’s more complex than many people realize.

If it has significant upside value, you should consider flipping that yourself or find a partner who knows what they are doing to flip it and split the profit.

The best advice is don't buy in any area that prohibits STRs or makes operating them so onerous that you're unlikely to make any profit.