In the backyard, what was previously grass and concrete was completely transformed into a lush vacation oasis, complete with a luxury pool, expansive deck, custom mural, chic furniture and hot tub for the ultimate tropical experience.

But i want to make myself available for anyone that needs help on the purchase of properties within Lisbon area.My skills are investment, property management and luxury market.

I know its a Massive catch 22  how do you start.. and what is the proper amount of reserves to have.. but as your gently alluding to anyone using ALL their liquidity and thinking one low end rental is going to get you to your as Morris calls it  ( Freedom Number)  this is ultra high risk.. much better to simply buy a REIT and let the pro's manage it.The risk of owning these assets is just not clearly talked about...

The only time it gets dicey is when its the ultra rich because yes they can spend the $ to keep it hidden. 

The hot tub was just for the luxury of having it, but we justified the purchase by increases the AirBnb nightly rent.

Long story short, I spent about 3 months figuring out how to make half-decent drawings and refining and adjusting them to code.We started work on the basement at the end of May with Minh and by the middle of September the basement was transformed into a luxurious 2/1.That still left a lot of landscaping work, but my wife and I tackled that over the next 3-4 weeks in addition to the furnishing.

I also think that if there is any downturn, entry level vacation rentals in places like Kihei will feel it much less than high end luxury vacation rentals and hotels. 

I hear ya I would not want to have a spec build in SWF right now unless its a ultra premium where the buyers buy for different reasons.

That said, I'd install a middle-grade plank vinyl--now called luxury vinyl plank (LVP) and make sure it is "waterproof". 

New construction is up, a couple luxury neighborhoods (500k+) and a couple new mid sized apartment complexes (1000+ f/ 1 bedroom).