This provides an international/affluent tourist pool whom are extremely unlikely to disappear regardless of local economic conditions.

Knowledge and understanding of it is just one component of what makes someone successful in it.   

Now, youre under the gun on a refi needed to finance another purchase and the loan you were counting on isnt - and never was - available to you because of an error that wasnt caught due to a lack on internal quality control.

But most of these bridge loans have future funding components where the lender will fund renovation work as the work is completed and add that to the loan balance. 

Real estate's "gross rent multiplier" is Wall Street's "sales to revenue",  "cap rate" is roughly "P/E ratio".When evaluating markets and investments I tend to start with GRM (or lazily the 1% rule), then attempt to return a cap rate based on assumptions about costs, then I work my way to multiple years of projections (assumptions about inflation, amortization, tax benefits, etc), and if I am partnering with one of my smart friends I have to pull up an IRR (internal rate of return).I also look at regional employment levels, median income to rent ratio in the zip code etc. 

It is an internal bar in the frame so it can't be repaired.

but if you have a view on active vs. passive income.my goal is to have income from multiple sources, ideally part time work that i enjoy is a component. 

It is absolutely needed -its one of the most critical components. 

Both are digital-first banks with minimal fees, and Mercury in particular offers free domestic and international wire transfers for most account holders.

If you need to ask yourself why to those things, you never understood those things never need to be explained internally and externally.