I would keep the deposit unless I am able to rebook the dates and then I would only make her pay the difference for any unbooked nights. 

My advice would be, if you truly want to learn the business, lease it up, refinance, pull some money out, and go on to the next one.

It seems like the North Dallas (where all the buzz seems to be) seem fairly far from downtown Dallas.

Do you typically keep profits in the US/USD?

I see it as a tax-benefit discussion with the seller.

Sometimes if there are large structural components like columns running through a unit space, they could be excluded from the unit area itself like a donut hole in the middle, making the outside to outside measurement larger than what is in the condo plan.

Hi Aidan, when you first started you can create your partnership agreement per deal depending on what your end goal is for the property. 

I was considering taking out a $240K HELOC with a 10-year draw period and pulling $160K from it to build the next rental property.

But thanks for the tip.

@Shafi Noss Improving the land would be the simplest since there's already a driveway, electricity, and an old water well that needs to be jetted again.