I wanted to solicit some background info before reaching out to my accountant and she advised similar to your comments. 

Boom multiple income streams. 

I think you would need to account for that with each “flip” - does it? 

Deals like this, with additional income potential (garages, ADU, etc.), could help you cash-flow while you build equity - best of both worlds.Lastly, targeting properties that have been on the market 30+ days could be a good start.

Hi everyone! I am looking at purchasing a vacation rental in Costa Rica and I have a couple of questions in regards to that.  Firstly, does anyone have an international lender that they would recommend?  Secondly, doe...

I realize I don't have the actual NOI, but that price sounds super high for the gross income you're stating in your narrative.

As a result, no MiniStays account for me. 

Personally I never listen to what the seller states the income is as they are sometimes way off.

Congratulations, you get to share your partners tax burden and pay the depreciation recapture at ordinary income rates. 

The only taxes I remit directly now are the tiny town tax they implemented of 1%.I just take my net income spreadsheet and calculate the 1% and give them a check.