This was eye opening for me on the paper work side of things, at the time it was quite a bit but a wonderful lesson to learn especially being my first deal.

If it is a turn key property managed by a property manager or you have limited interaction with your guests it would most likely be considered passive income and filed on a Schedule E Yes!

Fair enough, I can understand that in the eyes of the lender i’m just a dude about to quit his job looking for a loan.

As a real estate investor and advisor with an eye for opportunity, few transactions in history rival the scale and foresight of the Louisiana Purchase.

If I'm going to invest the amount of money required I want to personally be able to keep an eye on the property, and interact directly with those assisting me.

Hey Ryan- I just did the Eagle River Triathlon a few weeks ago - lots of fun.

If you do have a current property manager, meet face to face with them and find out the details of how they manage the properties with an eye toward improvement.As has already been alluded to, you should think about what happens when one or both of your parents pass.

I'm half way through "Start Your Own Corporation" and it's a real eye-opener.  

don is just making excuses ...hes never done it and cant even speak of it -- a birds eye viewput simply - you have to do it -- all the other jibber-jabber on here just reads as complaining and excuses -  it is real estate to a degree.  

Some get materials cheaper than others and some have more of an eye for design than others