This was a conference for mostly private equity firms that raise money for and invest in large multi-family deals, and truthfully I felt a little out of my depth.

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.

And you risk the boy friends and baby daddy's.. that's your risk.And of course kids are rough on houses I don't care what environment they are raised in.. 

Plus 90% of repairs can be put on a credit card.  

The contractor took 3x as long, raised the budget by 70% as kept finding new little things it needed.

The Quit Claim Deed raises the question why? 

And if the numbers are ever that great to where I want to sell a few to raise some cash, I'll either refi and pull cash out or I'll just eat the recapture and take the hit. 

You wire funds to a company that is in the business of building buildings, they create plans, get permits, raise additional capital, supervise construction, supervise filling the building with tenants, sell the building to an institutional investor, and if everything has gone to plan then there will be a significant profit and they wire you back more money than you put in.

Post cards are not necessarily cheap.

Will they find the property send you a contact and then a thank you card or will they provide resources for tenant improvements, get tenants, stabilize the units, plan for the exit etc...