Nevertheless, I gather the general opinion that condos are not a preferred type for investment purpose.

I prefer the cleaners coming closer to the time of the next guest than immediately after the last guest leaves (normally this is only an issue during our slower season).  

It sounds like you are just getting started on your RE journey so I'll point you in a few directions and give you some ideas and some things to think about.Firstly, I'd recommend reading all the books on RE - preferably the ones written more recently as the market has changed drastically over the past few years.

Does anyone know if there are REIA meetups and/or Real Estate investor meetups in Iowa, preferably in Scott County Iowa?

However, the exact treatment may depend on your accounting method (cash vs. accrual basis), but most individual taxpayers use the cash method, meaning they typically report expenses when paid.

I would suggest finding an investor friendly contractor who understands the difference of the scope between a flip and a rental and preferably is an investor themselves.

Talk to your preferred lenders about whether they see a cash our re-fi as being approved with the same standards as an investment, i.e. loan to value, debt coverage ratio, etc.

The individuals that broke in did the following:    a.

It shows individual gains and ROI over a 30-year period, which helps identify which factors provide the highest returns and make informed investment decisions.In your case, even if you're not cash-flowing in the first year, since the negative cash flow is minimal, I’d still go for it.

Preferably in the Oakland, Berkeley, Walnut Creek area?