Don't get ahead of yourself or buy a 2nd property or take on too much debt until you have a better idea of how to operate a rental property and how much it costs, or if being a REI is even for you. 

I use virtual assistants from the Philippians or get a gig on Elance to do all that grunt work.  

One of the key takeaways in a person's wholesaling journey is finding the right people who are serious and want to connect with you to create profitable and wholesaling success.I connected with someone on the east coast and they want me to work with them as their virtual admin finding buyers and sellers for them.

It has to do with the LLC Operating Agreement you use.

Also, this creates misalignment of interests as the deal unfolds.3) Check the details of the operating agreement.  

No subjects, new learnings, etc. are being taught.Systems, processes, and operations are outdated and poorly managed.

., while John has a lot more experience than I do, and no real estate investor wants to be a restaurant operator, there are some upsides to Option 1, as I see it.The lower base rent could allow the Option 1 tenant to remain open throughout a recession, while option 2 may decide to close down the sales drop, if rent is too high.But beyond that, are a lot of factors that I would assess:Who is the actual guarantor on each lease?  

Thanks all, only clarification is I’m making money in Summer, and apologies for miscommunication - I meant on average (annually) I’m losing 5-10k so realistically will lose $75k on it first 12 months operating (but created about $800k of equity).

In my case, I just purchased my first out-of-state property and plan to operate it as a STR. 

Currently I’m operating it as a STR, but I need a new cleaner and the quotes I’m getting are in some cases double my nightly rate, and the amount it grosses is only slightly more than what it will do as a LTR.