That was a major turn off for us.

My team hasn't set up any STRs in the Dominican Republic but we had acquired some STRs in Costa Rica which we had thought we're going to turn out well but we had a few issues to note:- Cashflow issues: Since we are basing our reservations on another currency we couldn't charge as much as we were hoping for. - Finding a Good Team: Since there is a language barrier in place it was much harder to communicate with any cleaning companies/property managers we found. 

Furthermore  once the 1031 intermediary get their cut and you also pay two sets of closing costs ( buyers now have to pay closing costs in some states ) as opposed to just one closing cost ( if not doing the 1031) it might be a “half a dozen vs 6 of the other “ scenario .Also one of the turn offs to the 1031 exchange is the interest rate will be much higher with todays rates especially since we would have to get an investment property loan which are higher than “ primary residence “ loans ..Will probably lower the rent asap ( have one more showing ) and then put it on the market .Thanks for the great advice Christian 

It’s all about lead generation.OK, so how can we turn lead generation into a reliable mathematical equation?

Renting for top dollar gets you less rent overall when the tenants turn over yearly and it takes you extra months to fill the vacancy!

On the other hand, you build wealth by having income producing assets.

You don't just turn a property into a Section 8 rental.

If you plan to simply turn your receipts (or copies) over to the bookkeeper to enter, I would suggest once per week (or twice a month), and simply write on the receipt what property the expense is for.

Original plan was to turn it into two units as it has and upstairs and downstairs entrance as well as a master bedroom upstairs and downstairs.

Usual turn around is six months on a project.