When people take advice on here, they need to consider all things involved and not run with one perspective.

Many are buying properties, doing minimal renovations to keep their crews busy, and selling with small or zero profit margins.Cash buyers are a priority.

A formal business built on this seems overkill as you’re essentially paying someone for a service that already has standard model.If you and the parnter have distinct business tasks/abilities (i.e. not what you would hire an agent or contractor for), such as off-market lead generation, that’s a different discussion.

Line Item Fee Collected Rents 10% of All Collected Rents New Tenant Search & Onboarding $500 Business Hour Service Calls $80/hour + Materials Cost + Tax After Hour Service Calls $110/hour + Materials Cost + Tax HVAC Cleaning & InspectionGutter CleaningSpring/Fall Exterior CleanupSeasonal Mowing & Weed TrimmingSeasonal Snow PlowingGeneral Contractor Vendor Cost + 10% Oversight Fee

It’s a gem for insights into running and expanding a business.

Leverage magnifies return. 3) The effort involved in adding an ADU is comparable or larger than a rehab associated with a BRRRR.

In the Bigger Pockets free book, "Real Estate Rewind", as one of the 11 co-authors I wrote about one such Tax Sale purchase and made money but not enough money to warrant the risk involved.

Hi friends!  I have a LTR property in the Springs and it's in an LLC.   Do you know if I am able to get a HELOC on the property even though it's under an LLC?  If so, how did you go about finding a lender?

We hope to hear from you soon and we appreciate your business.

I'm not sure why that metric has held true but it still applies, the properties that perform well above that ratio are the owners that treat their STR like a business.