To clarify, I had initially put the property under contract but had to back out of the deal due to negative inspection results, specifically related to foundation issues.

That said, I think it’s impressive that you’re able to manage this with fewer accounts—hats off to you for making it work efficiently.For me, having accounts like income, operating expenses, marketing, and taxes gives each dollar a specific job.

If you're not set on a specific market, it's worth waiting until you choose, as forming the LLC in your target state can simplify compliance, property registration, and taxes. 

Some use very specific goal setting metrics, some use more general goals, there is no right answer for every person, but I am willing to bet that those that set some goals will be more successful in the upcoming year than those that do not. 

If the covenant specifically prohibits renting out rooms or STRs, you may be restricted from doing so.You should carefully review the covenants tied to your property to understand the specific restrictions.

It'll be property specific depending on the condition but I'd say anywhere around 5% is going to be a number to start with. 5% cap ex. 8-10% for management. 5% for vacancy.

Hey everyone-We have clients looking to dive into out-of-country investing in Ireland specifically.

The best thing to do is look up property taxes on county/town websites to get an idea for specific properties.

I also have every guest sign a rental agreement, whether on or off the OTA's, that states the specifics including the cancellation policy, so I know they have read it outside of the booking information.

The property is in a B-class neighborhood, and while I’m comfortable managing coliving setups, I’m curious about any potential nuances around refinancing and insurance for this type of property.Are there specific loan types or lending policies I should know when refinancing a rent-by-the-room property?