I am set to start my full time job starting January and I have been working as a intern for this summer.

I know that I can't use that formula with internal management and staffing (leasing, management, maintenance, etc).

I started going there since about 1990 from SoCal for fun and vacations so i've watched it evolve over the years from a dusty gambling town to an international resort destination and I see huge opportunity there over the next decade - it reminds me of LA around the Sunset Strip and Hollywood in the 80s when it was run down before billions of dollars started flowing in and now those areas are some of the most expensive in the city. 

@John HyreIt is a sticky point when you really break it down academically. 

It's difficult here to differentiate between giving good advice and advocating mentorship programs, workshops or courses to advance your one on one activity and thus speed up the learning curve and timeline to reaching and stretching your goals.I personally have gone the journey from DIY wholesaling, flipping, seller-financing SFR and international Short Term Vacation Rental management and then arrived at commercial multifamily and self-storage real estate syndication due to the fact that it offers the maximum scalability, economy of numbers and at some point truly leads to passive, residual income and thus to time freedom and choice.Send me a colleague request to kick the tires, set up a call and get a few burning questions answered in real time, one on one. 

Then  have a third-party entity buy those mortgages and put proceeds into an inaccessible account in their international trust.

I have studied how to be a good RE agent for a little over a year now and I am about to be an intern for a brokerage in the upcoming months.

He was looking to learn about a career in real estate and joined my team as an intern.

I think this is why internal rate of return exists - I know we're talking about rules of thumb, but if I've got a property in an area expecting lots of rent growth, I can add value in other ways, etc. over the course of a few years, the present value of those future cash flows and any other liquidity events become very important and it could make sense to accept a much lower CoC in the near term. 

We are in the down-valley shadow of Vail and Beaver Creek ski resorts so there is international wealth pressures, lack of affordable housing and general scarcity.