Read some books. 

If you care to learn about the distinctions, read these posts:https://www.biggerpockets.com/forums/517/topics/1215989-expl...https://www.biggerpockets.com/forums/51-tax-legal-issues-con...2.

If you have any tips for a complete beginner, I’m all ears!

Quote from @Mitchell Gunlock: Quote from @Cliff Benner: Looking for Tips on how to find places that have multiple cabins or additional dwellings on a property that I could live on and run.

What I like about it is the fact I can reach out to them when I have specific questions about a topic or if I wanted more details.Information like this can be found through reading REI books and scourging YT videos.

BRRRR is not a great strategy in the current market due to the mortgage rates so it's not as applicable as many think from reading older posts or books about how easy it is.

I just read an article recently that noted "Avg Profits For Flipped Homes" of $80,000, however when you dig into the article and their sources, "Profit" is simply Sale Price - Purchase Price...so it doesn't consider renovation costs, holding costs, financing costs, etc.

One tip: focus on areas with year-round demand and check local regulations early—they can make or break a deal. 

Hi Mary - your post is so succinct which makes for easy reading. ;-)Some things come to mind-do you host yourself, have a property manager or co-host, is your STVR dog friendly, do you have king beds, where is your market, do you have professional photos etc.

A friend of mine in Austin once negotiated a partial buy back option when the seller realized they might want back in if the market soared.. from what I read in Bloomberg, that approach can work well if both sides trust each other.If the tenants’ rent covers your carrying costs, that’s a nice cushion, but you still need to clarify that buy back clause.