If managed correctly, the rental income should cover your property expenses (like mortgage, insurance, and maintenance) while still leaving you with positive cash flow.

Annually, Does the higher nightly rate but higher vacancy rate push off the highest operating income? 

Right team, right attitude, right maintenance can make some tough assets work out.

I will be managing all booking, renovation, and maintenance operations of the STR (besides mandatory front desk operations, and cleaning - required to be run by the Hotel).

Beyond the Monthly Management, Placement & Maintenance fees, all other fees in our contract are IF EVENT -> THEN fees.

Annual contributions are 10x higher than an IRA and the plan has Roth and traditional built in.  

A BP personality recently indicated he pays $50k annually for his accountability group.  

Some states also require an annual license fee to own and operate an LLC so that could also cause a potential for increased costs there as well.I would consult with a real estate attorney to see if an LLC makes sense from a legal standpoint and advise your accountant as to your decision so the appropriate tax filings can be made. 

FYI- if you find me a 1mil property that does 200k in annual revenue, I’d buy it today. 

What if you're a cardiologist with no debt and making $250,000 annually?