I find it hard to believe that it has not experienced a loss, but I guess it depends on how one defines loss.

Otherwise, the landlord could hire you to collect bookings, fire you, and keep all the money.I recommend you look at other aspects of your management contract.

Hi Scott,How do you define "good"?

You really want to surround yourself with experts on every aspect of STR investing from insurance to financing, REI analysis, tax strategy, growth and marketing plans, etc... people who are good at this have teams of specialists guiding them.  

But after further research I could do the same arbitrage lol, so cash-flow is not really problem for me right now.I think one good aspect of real estate is that because it's always in short-supply,so even the low-educated homeowner is almost always win and we don't need to be very advanced in financial/engineering like in equity investment. 

I'd recommend analyzing 50 private placement offerings to gain knowledge and define your criteria for investing in them.Properly investing in syndications can be mostly passive but it takes upfront work and education to get there. 

Definately get a 240VAC hot tub.

Yes, there are limited neighborhoods where it is walkable but I would not be selling that aspect.  

@Noa Zell, here's the actual language defining MR1 zoning:https://codelibrary.amlegal.com/codes/los_angeles/latest/lap...I'd study this and see if any allowable use would generate more rental income than auto repair shops.

From a tax efficiency aspect, a lien on investment real estate equity is by far superior to 401(k) or an IRA.Paul