You can view their review counts to give you a rough idea on the bookings and note what their weekend/weekday pricing is to give you another form of comp.

The unfortunate reality is that the BRRRR book made a lot of sense when it was published, but with the high rates now, BRRRR is much harder to accomplish.

And you've joined one of the best communities for all things real estate investing.1️⃣ Download this ultimate beginner’s guide: https://assets2.biggerpockets.com/uploads/user_file/file_object/1694/UBG_2018.pdf2️⃣ Read BP beginner books on investing: https://store.biggerpockets.co...Also read, Rich Dad, Poor Dad by Robert Kiyosaki3️⃣ Subscribe to BP podcasts or YouTube channel and watch their webinars. 4️⃣ Ask questions here on the forums.5️⃣ Visit (join) a local (and legit) real estate investment association.6️⃣ Consider joining a BP bootcamp: https://www.biggerpockets.com/blog/real-estate-investing-bootcampsI wish you all the best in your investing journey!

I’m always thinking about how something will photograph so my other advice is to make sure the photos are top quality because that’s all someone has to go off when booking. 

Most hosts in Chicago just pocket the full funds from direct booking, you would be in the very very small majority if actually paid city taxes on it.

Can't believe I've been reading Rich Dad books for years before ever hearing about Bigger Pockets via David Greene books (BRRRR and Long-Distance RE Investing).

I have a very basic understanding—I used to be a real estate agent, I currently work as a property manager, and I’ve read a good number of books.

The trade off course for STR route is more management/cleaning of guests coming and going/risk of no bookings vs not needing to deal with long term renters months at a time if that once they move in.

A unit within walking distance of the Blue Line in Wicker Park might rent for $2,200/month compared to $1,700 further away.10.

This is pretty clean.Scenario 2:  Your partner has owned the house for 15 years and has been taking accelerated depreciation, so the book value of the house is very low.