If you operate an STR, gross income is your total rent paid by your guests, before any subtractions.To figure out your taxes, you take this gross income and subtract from it all allowable business expenses: marketing, education, technology, licenses and fees (including Airbnb and credit card fees), office expenses, business driving and so on.

So I would educate them on the fact that they were given a gift for many years, and now that you have finally chosen to raise rents to market (so that you can make the profit that you deserve) they will have to wait for a year so that you can put aside some of your new (and well deserved) rent increase to pay for their nrew floor.

@Jaiden YoungWelcome and nice work on getting started with your self-education!

I have been doing research for a couple months now and I feel a lot more educated than I did before.

I have been doing research for a couple months now and I feel a lot more educated than I did before.

Education is always a good thing.

. 📚 Educational Resources – Passive Investing 101 course, ebooks, articles, podcast episodes, resources, and more.  

Yes - I believe that odds are better at making an NFL roster than sustained modest six-figure success in wholesaling.Most of this industry is filled with broke no income no job, no assets types who paid a large educational fee to one of the ~5-20 major gurus in the space and will never make meaningful income.

I am also looking to educate myself on how the real estate business works in the US. 

Many hard money lenders are happy to educate you about their program for free so you can refer borrowers to them.