This is the BEST $100 you will ever spend, and if you listen to Amanda Han's tax book, you'll know it's also likely a business expense for you to write off :) https://biggerpockets.supercast.com/My perfect way to learn from the BP books is to listen to the audio book through the subscription above, then books that really stand out to me I go old school and get the physical copy so that I can re-read it, take notes in the margins, and put post it notes so key points are easier for me to re-reference in the future.

Right now you have $1,000 in cash flow that can be used to fund other projects (seed money), pay you in profit to supplement your lifestyle, or fill in any gaps for underperforming properties.  

This is your error margin.

I believe they eventually sold for a huge profit and 1031’d into a larger property.

Additionally, as a co-owner, he would directly benefit from any appreciation, tax deductions, and profits from the property.On the downside, being on the loan could impact his credit score, especially if there are any missed payments or financial issues.

I made zero profit from operating the property. 

welcome. it can be profitable but do your due diligence. network with people that are doing it and try to see if can find mentor.

They’re so excited about the SDE or the margins or the multiple, they lose sight of the bigger picture.Business is personal.

Renting by the room can indeed increase profits, but it's important to consider the potential challenges.

The property is located on St Augustine Beach and other STRs have high occupancy rates, solid ADRs and are very profitable when managed correctly.