Booking lead time has been dramatically dropping over the last couple of years, and people booking week of is becoming more common, especially for smaller places. 

There are several different types of income in the US tax code.Two main types are “active income” and “passive income".Active income is money you earn from working, such as wages from a W-2 job or income from running a business.Passive income is money you earn from investments like real estate, stocks, or rental income from your RE portfolio where you earn $ without actively working.Normally, you can't use passive losses (like losses from real estate investments) to offset active income like your salary from a W-2 job.That is unless you are an RE Pro.The reality is, that Real Estate Pro status is just a filing status similar to filing married or jointly.And if you are a real estate professional you CAN use passive real estate losses to offset active income from other sources.To qualify as an RE Pro you must:1.

It's good practice in making the calculations needed to decide whether or not to pull the trigger on a potential deal.You soon learn that starting off as a Doctor is less advantageous than starting off as a Janitor, because the game presets your income and expenses based on the job title.

Job, family, retirement, location, world, moving,  etc3.  

Quote from @Sarah Kensinger: In some properties we might stash some under the bathroom sink in case a guest forgot theirs, but it's not something common we do.

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

We don’t plan to leave jobs and live off of the portfolio but have it as a wealth generator aka hedge against future risks

@Chris Kay beleive you can do DSR loans without a job as they qualify the property, not the borrower.You'd still need 20-25% down though.That's where you have a decision:- Pay down the mortgage, setting yourself up for a future refinance to free up your VA Entitlement.OR- Save up for your next acquisition.Only YOU can make that decision as you have to be comfortable with the increasing debt-load risk and the additional time to manage everything.

Multifamily is the most common one, but some groups also do self-storage facilities, student housing, commercial properties, and others.3. 

One of the most common complaints I see on reviews is how the area, location, or house did not look like they thought it would or was promised.