For further details on this parameter, please consult our user guide.We have allocated a budget of $15,000 for renovations / refurbishments.The purchase price of a 2-bedroom / 2-bathroom unit in this area is $498,000, with 5% of this price allocated for closing costs.A turnover cost of $175 per booking has been factored in, with no rental management fee assumed, indicating that you will manage bookings and cleaning services independently.The mortgage rate is set at a fixed 7% per year, with an 80% loan-to-value ratio (LTV) and a 20-year term.For the remaining parameters in our financial model, please refer to the image above.Taking these values into account, below are the results of the financial case study.Some insights:The results show the anticipated performance of a 2-bedroom / 2-bathroom unit in the southwestern area of Okaloosa Island, Florida.Expected gross revenue amounts to $78,240, derived from 47 bookings with an average stay of 5 days at an average daily rate of $325 (inclusive of cleaning fees).Total yearly expenses add up to $68,014, encompassing various costs from private mortgage insurance (PMI) to property taxes and annual loan repayments.The cash required for this deal totals $139,550, incorporating the 20% down payment for the mortgage, 5% closing costs, and the $15,000 renovations budget.Pre-tax net revenue stands at $10,226, representing a 7.33% cash-on-cash (CoC) return.The annual return on investment (ROI) is 1.9%, excluding value appreciation.

So if you imagine the duplex is completely rented out at current market rates, that's where you should derive your cash flow number from.

If they have a section that talks about use cases for the laws read the heck out of them because test questions likely are derived from these cases.Otherwise, just know the math.

I come from a data science background, so I'm accustomed to creating models to derive the incremental ROI of each variable.I hear some people saying "get the $10,000 hot tub", and I get that, especially if it's a "table stake" that your property needs just to be considered by guests.However, when thinking about less standard amenities, like putting greens, gaming rooms, billiard tables, pool toys, etc. what tools or methods do y'all use to evaluate if a given idea will deliver a positive ROI?

@Christopher FrazeTo clarify, you need to meet two factors:1) More than 50% of the personal services you perform in all businesses during the year MUST be performed in a real estate business you materially participate.2) You must work at least 750 hours in a real estate trade or business.If either you or the spouse qualifies as a Real Estate Professional then you will be permitted to deduct all passive activity losses from your rentals against ordinary income from whatever sources derived.

Here is a Google definition of “woke” since you seem to be having trouble with it: “Woke is an adjective derived from African-American Vernacular English meaning "alert to racial prejudice and discrimination".

“The Congress shall have power to lay and collect taxes on incomes, from whatever source derived,…” 16th Amendment to the US ConstitutionOur elected representatives then gave the IRS authority to tax “income” (not business activity.)

The thing you're best at, most natural at, derive some amount of joy from (or grace, at least, maybe not full-on joy), and feel drawn towards... that's what's going to bring you the most success.

Was most of the value derived from the network or the education piece?

.- As far as the fees go, UW fees are usually a standard but again, the origination is derived from the loan amount so some institutions who are charged borrower paid may hit you with a 3% fee.- Not saying it is an industry standard to charge 16% in closing costs but it once you add up all of your prepaids, other costs, and unfinanced fees its not completely unheard of.In the end, yes - always get a second opinion.