So, for future sakes, I wouldn't get involved in these deals, unless I have more of a gap. 20-23k or so of profit is SUPER tight.

In the future, be very specific about these agreements.

@Sherry TsaiWhere are people going to be moving to in the future? 

I do not think he showed any real knowledge about real estates other than selling the products and if you do not, it is all gloom and doom for your future.

There is a lot of upside and the future looks good too.

When I think of waterfalls, I think of something like the LP getting say 1) a 7% preferred return 2) return of all capital AND then 3) the GP gets 25% split of all future proceeds/profits.  

I have my faith and I know it will happen but like you said, I need to focus on my credit and my finances and I’ve been in Work of doing that so I definitely see a bright future and Real Estate thank you for, this is exactly what I needed to motivate me.

AirDNA's rentalizer tool can provide a detailed cash flow analysis.Investment Potential: Look at historical data and future projections to assess the long-term profitability of your investment.Using these tools and insights from AirDNA can help you make an informed decision about your short-term rental investment. 

I would talk to an accountant about future planning for any REI investments for your 1031 questions & to discuss depreciation for rentals.

I’d be very grateful for any advice or recommendations on how best to approach these modifications.Also if I were to refinance in the future to pull out cash from the property, is this something that banks could refuse to lend on if I have code violations of lets say a wall that was moved or removed?