It takes a certain level of QB knowledge to set it up correctly.My General Recommendation: Spreadsheets are usually fine for your first 1-3 properties. 3+ properties, you should use a software.

If you ask nicely and promise not to share, you can usually get good financial information on the properties that are currently operating as a STR.If you're just starting out looking, you may not be aware of just how many cabins out there are poor quality builds due to the lack of codes.

If you need more coverage, you can usually increase the liability amount on your current policy.

@Kyle Kline I don’t generate huge amounts of cash flow but when I analyze a property to buy I make sure the income will cover an allocation of usually 5-7% for CapEx, Repairs, and vacancy.

My channel is a lead-funnel for relocation clients, usually executives. 

I let them run to the end of the year as m-t-m, then send a rent raise letter, usually for $25 or $50, on or about Nov 1, effective Jan 1. 

.- Taxes are usually much lower the first year. 

Hi Mike - For STRs, a smart TV with internet is usually plenty since most people just log into their own streaming accounts.

If you have a multi, I usually recommend not allowing tenants to store items in the basement.

I don’t know of any other opportunity where you can net $10-20K (in some cases even higher) per month on a single residential property.There’s usually plenty of room to bring investors in and everyone involved still win, even in todays higher interest rate environment.Financially, residential assisted living is usually a more cost effective option for families than alternatives.