First thing I always ask people who ask me about doing STR is do you have a regular w2 and do you want to do another job?

Just like regular investors, they can keep extending the term and also potentially dilute the preferred later if project does not trend well or interest rates do not come down.

And to address something earlier - siblings talk regularly, know the funds are limited and all expect a $0 inheritence.

If your regular depreciation is not enough to erase all of your net income, cost segregation can do the trick.

I do not accept personal checks under any circumstances for these move-in funds.This agreement is between_________________________________________, hereafter referred to as “Prospective Tenant(s),” and ____________________________, hereafter referred to as “Landlord.”Landlord acknowledges receipt of payment in the amount of $___________ from Prospective Tenant(s) as a non-refundable binder for the property listed above.

Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

Stay consistent by buying properties regularly, keeping a record, and networking with investors.

Not a B&B investor but the rule of thumb is make sure it works as a regular rental first, then everything beyond that is gravy.

@Ivan WudexiRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

Hi @Joshua DunlapI would suggest using this website for a quick reference.