While you may be at b/e for cash flow, at the end of 5 years you have 40% equity in the property if 0 appreciation.  

I am launching my first STR and I was wandering what are the most common site for bookings besides Air b n b and what are their pros and cons. 

However, if you dive into the language of the regulations, including examples, you will see that replacing a fence falls squarely under B (Restoration).Bottom line: it is a capital improvement in 99% of the cases.

Hello all-  Briefly- I used a HELOC on property A to buy Property B which I am now trying to sell with 100 % owner financing. 

Quote from @Sandra B.: Zoning zoning zoning.

But for a stabilized Class B multifamily in this market, for example, my bare minimum would be 10%, "depending" on how much brain damage the building caused me (even though I use a management company) and what the appreciation potential is (which I never assume more than the rate of inflation, tops) etc.  12%+ is what I'm after.  

@Bill B., Great points!

Research your local market trends before starting, and have a plan B (like renting out the property) if the market shifts unexpectedly.For anyone new to this, patience and flexibility are crucial.

@Bill B. check with a RE atty. regarding depreciation recapture. 

Quote from @Bill B.: And don’t forget.