Ensure you understand local regulations regarding permits; it’s usually a good idea for your associates to form an LLC for liability protection, but individuals can do renovations as long as they pull the necessary permits.

I have managed STRs for 10 years in Los Angeles, so I understand the business and operations.

No one understands (except the PM) why it cost $100 to send the maintenance guy to change $3 worth of batteries. 

Determined to avoid such mistakes in the future, I earned my real estate license to better understand the buying and selling process.

I believe that financing is a great way to put your cash to work for a nominal return if you understand the business.How did you find this deal and how did you negotiate it?

In areas such as NYC the market tends to be a little lower, from what I understand.

I understand the safety concern.

If you proceed, understand you will most likely GET LESS for your property with a tenant as opposed to vacant.Why?

I find this screens out any guests that could have issues and lays the groundwork for a great stay.It also weeds out folks (in our case) that aren't understanding the distance to town and certain activities in our area.

I've searched around and think I do understand how it works, but do you know any good resource that I can get more if not at least the accurate information on it?