The buyer agreed to cover the cost of the new appraisal, which came in significantly above the purchase price.

You may have to search a bit for the right contractor or engineer - sometimes I see one solution dominating in an area - "that is how we always do it"  Thanks for the input - yes, it sounds like the specific area this house is in is particularly bad for foundation issues.  

I've specifically learned a lot from Dave and Henry on their podcast, but also appreciate Jesse Vasquez' approach with her mid-term rental investments.

Purchase price: $785,000 Cash invested: $156,000 Short term vacation rental in Panama City Beach.

Now purchasing a home with cash is always good b/c obviously cash is king but also I think the part you might've missed is that, the money your utilizing on these home's won't actually be yours, but the banks or whatever institution you used to fix the home or make its value worth more.

Quote from @Mel Kirchhoff:Some specific questions I have:• Should it stay fully stocked like an Airbnb (plates, utensils, towels, etc.), or pared down?

@Ashish AcharyaYou're merely reproducing the IRS position, the one I specifically challenged.

These were not specifically related to owning rental properties but the clients' assets (including any owned property) was better protected due to having umbrella coverage.  

Purchasing a “distressed” property and “repositioning” it requires significant capital for improvements, build outs, holding costs, maintenance.In looking for that “needle in a haystack” slam dunk great deal you’re competing with very knowledgable, greatly experienced investors with the cash to make no contingency offers and close in a few days.  

Our goal is to purchase 1 property a year for the next 10 years.