Also, you could consider investing in a larger syndicated deal with investors that have proven track records. 

If you are going to charge for your time, you should track your hours and then assign a reasonable.

This approach allowed us to move quickly and efficiently, ensuring the project stayed on track.

I currently own a duplex that has proven to be a great investment; yet, it doesn’t hold up to the 50% rule.

It also means keeping track of money in and out, talking to a tax expert, and being good to your tenants.Good luck

This will not only protect your personal assets from any potential renter who is looking to sue, but it also will vastly help the underwriters track income when looking to get approved for future loans.

If the borrower qualifies without using rental income, a lease may still suffice.Some lenders may make exceptions for existing investment properties with a proven rental history.

They will limit the days it can be used as an STR for the 1st year but in my experience they do not follow up to track the actually days.

And, sorry @Andrew Hogan, I have to disagree that 506(c) are higher quality than 506(b).  506(c) only became available in 2013, so there are many, many long time, proven operators that never made the transition to 506(c), simply because they didn't need to.  

The city arrived at the $180,000 fine based on a $500-a-night penalty for each of hundreds of nights it tracked as booked at Tao's property, according to documents submitted to the City Council."