When you add purchase price, carrying costs for at least 6 months, materials, labor, real estate agents costs and taxes, do you have at least a projected 10% profit?

My wife and I were in analysis paralysis for sure, but then the academy dropped and we were sure we wanted to get into RE, but didn’t know how and this course was WAY cheaper than comps that ultimately just try and sell you a conference that just tries to sell you… on and on plus like you said, we got most of our money back and got to keep the material. 

However, note that STR income may be considered active if you materially participate (e.g., managing bookings or tenant interactions), which could subject it to self-employment tax.This post does not create a CPA-Client relationship.

What is the flooring material?

S&P500 index is propped up by about 7 companies that make no material value with P/E ratios of about 3% for the market average.

How are they sourcing materials?  

The fire prevention policies were different, more aggressive, so far less imperative reasons to sway away from a then amply supplied and I imagine price adjusted material of shake vs fire resilient material. 

Legal Implications & Ramifications : As an example; the iconic PCH homes in Malibu and many in the upper foothills might not permitted to build back, certainly not to the same extent or materials.

Insurance companies are taking a close look at building materials, quality, and updates. 

To qualify, both spouses must materially participate in the business, and the venture must be jointly owned and operated.