Tim, reading through your post, and you mention being interested in STRs.

Quote from @Nick Rutkowski: @Nathan Gesner for the beginner guys who are going to read this post.

If any of you reading this feel you can assist me.

And yes, the income from renting is still taxable, but ideally you are offsetting a chunk of that with depreciation which is a non-cash expense.You should read Amanda Han and Matt MacFarland's books as well which are available in the BP Bookstore. https://store.biggerpockets.com/products/tax-strategies-book...

Continue to read and study but it's a lot of information!!

I always am amazed when someone selling a $600,000 house brings me a listing agreement where they agreed to pay a stranger $30,000 to list their house for sale and they didn't even read the agreement much less spend the $250 to have a lawyer tell them that yes, if they sell it to their cousin during the listing period they still have to pay the $30k.

A lot of it is the standard Buildium application, most of the extras I put in there after reading Landlording on Autopilot by Mike Butler.Application fee needs to cover all your screening costs. 

I laughed when I read that you added value through "Pain", which I assume you meant, Paint ;-)This shows that you are going to hold this investment.

I suggest reading it over and weighing the pros and cons.

Thank you all so much for taking the time to read my post!