Additionally, most of the costs to make an asset ready for it's intended business use are capitalized and part of the cost of the asset. 

If you're gonna spend your money in Cleveland on some cheap properties, you'll want to learn the ins and outs of all of the neighborhoods.

Please keep pushing and sharing your progress. we are enjoying seeing your success in addition to learning how to pursue and analyze deals in different market sectors before blindly buying and learning the hard way.

It never hurts to have an additional set of eyes to look after your property.

Being able to A/B test MTR at the same time would allow you to know if you can convert the STR to MTR if you ever want to move out and keep the property.As for the net negative house hacks - I always like to remind people that shy away from a deal because they aren't making money that they are usually still coming out ahead if they are spending the same or less than they would on rent.Great last point.

So, let’s kick off this last chapter by learning how to squeeze every last drop of potential out of every property.Adding Additional Units.

If additional funds are required or if a professional is unable to resolve the issue, Lula will reach out to you directly.Let me know if you have any questions! 

My mark up is always lower than the direct lender because I don't spend money advertising during the Super Bowl or buying a private jet for my CEO, and we don't have layers of management we need to pay.

I'll share first: I plan on spending the first bit of the year saving for my next deal--I'm looking for a SFH somewhere in the midwest to long-term rent.

Here are the numbers:IncomeTotalPartner ContributionsManaging Partners Debt$0.00Partners Deposits$987,459.99Total Contributions$987,459.99Operating IncomeAirbnb Income$50,186.50Square Income (Vehicles or add-ons)$6,741.04Total Operating Income$56,927.54Total Income$1,044,387.53ExpensesPurchase of propertyCost of House-680,000.00Closing Costs-$26,744.44Total Cost of Purchase-706,744.44Set Up ExpensesHouse Improvements & Care taker home addition-116017.03Adding Tiny House-52130.83Furnishings-68403.65Vehicles-43150Set Up Costs and Advertising-2339.53Total Cost of Set Up-282,041.04Operating expensesCare Takers-14535.9Additional Cleaners-1505Cleaning Supplies-2670House Supplies-1340Landscaping-4230.66Utilities (Power & Water)-8204Internet-315Pest control/fumigacion -120Pool cleaning/maintenance-2220Vehicle Gas-552.3Vehicle Maintenance and Repairs-6625.01Welcome Food for Guests-115Property Repairs-4999.64Bank Fees-1208.06Accounting Fees-1085Insurance-955.74Other Expenses-1071.2Total Operating Costs -$51,752.51Total Expenses-$1,040,537.99Net Income$3,849.54Net Operating Income$5,175.03Now 5k for an investment of 970k is not a good investment.