My recommendation to serious real estate investors is buy an opportunity in any segment, do the math (it's all about the ROI; some investors fall for the 'commercial' is more prestigious chest thump to find that losing money isn't very prestigious at all), and plan on proactively running a business. 

At this point, I would recommend having a line of credit to cover these things so you don't have money sitting in the bank doing nothing when it could be put to work.I have 33 units, no debt except for mortgages, and excellent income.

If the guest feels slighted, there is no fact checking service provided by AirBnB to confirm their claims, so it is up to you to let future guests know the level of professionalism you provide.If you are able, I would recommend editing your response to the 1-star review.

If you're looking for cash flow (like the 1% rule) and amazing appreciation potential, I do recommend a market like Columbus Ohio. 

Can anyone recommend hard money lenders who specialize in working with first-time investors?

Recommend you take a look!

Word of mouth recommendations always goes a long way with me.

The calculation involves:Selling Price: $1,075,000Original Purchase Price: $355,000Depreciation Recapture: $105,300 (taxed at 25%)Capital Gains: Sale price minus original cost, minus depreciation, minus selling costs (~15-20% federal capital gains rate for their income bracket).State Taxes: Since the property is in California, state capital gains taxes will also apply.Given the multiple layers, I’d highly recommend your parents work with both a CPA experienced in real estate and a qualified intermediary for the 1031 if they choose that route.If you need recommendations for professionals in Illinois or California, feel free to ask!

A great CPA who specializes in STRs can confirm this and help you stay compliant.About That CPA…Honestly, I’d recommend finding a new one.

FYI, we were able to get a 5.5% rate from their recommended lender with 20% down.