However, I saw enough that I believe that the information available is so imperfect and subject to interpretation that large losses would be an inevitable part of the program, as well as large gains.  

I know he has some contracting information that looks to be very informative.

Originally posted by @Gita Faust:@Roy N.: So right QuickBooks is not the right solution for everyone.

Quote from @Rachel Jane: First post, no idea what I’m doing, lolMy grandfather passed away and left me his condo, which is fully paid off (and located in a seniors residence) It’s worth approx $500,000 (CAD).

Welcome to the community and be ready for a huge amount of information at your finger tips.

@Travis TimmonsI had the same reaction as you did, but I held off on posting since I don't yet invest in STRs (I'm all LTR so far, and looking into my first MTR).Buying an STR "to offset income" makes me nervous as well...

I can hardly believe an accountant would say such a thing unless there are pieces of the story that aren't in the post. 

She informed me that she & her sisters plan to take care of the rent so he still has the home when he gets out of the hospital. 

Not much has been released about the land that this new park was traded for, but even if that information was out there, not being a developer myself I'm not sure how to quantify if the developer got a "fair" or a "good" deal yup very common. 

The numbers you mention in your post are confusing - like $150k annual income from a rental property.