I already have proof of concept in Raleigh as Ive talked to multiple people (including the agent Im working with there) saying airbnb-ing rooms is a cash cow there. 

Professionally, I have a diverse background:🔧 Automotive Industry – I became a Master Technician and worked with Infiniti of Denver for over 13 years, including two additional years in sales to refine sales systems, processes, and negotiations.🏁 NASCAR – It was a hard choice, but left Infiniti to elevate my career, taking a position as the Director of Vehicle Graphics for Furniture Row Racing's NASCAR Cup Team and had the honor of winning the 2017 MENCS Championship with the team.🚗 Operations Management – I spent 10 years working with my best friends as an Operations Manager for his families high-volume auto accessorizing company where I mastered my craft.🏡 Real Estate – Eventually, I became a licensed realtor and landed a position with a top-producing team at LIV Sotheby’s International Realty in Breckenridge, CO.

Based on our research they had around 30 units under management all in foreclosure including a $10M+ property going to auction for 50%.So moral of the story, do not believe everything you read on the internet. 

That does not include any expenses, vacancy, etc.similar rent minus PITI does not equal cash flow.  

Renovations were mostly cosmetic but included a new roof, windows, siding, front and back porch and patio, new flooring, paint, kitchen, bathrooms, fixtures.

Charge the tenants a higher rent rate and include utilities with their rent.

Here are the notes I've received from other BP contributors, including Lisa Marie and Ke Nan Wang:Send a normal residential lease agreement to my attorney and he modifies it to implement the following:1.

@John Zhang If your wife qualifies for Real Estate Professional Status (REPS) and materially participates in managing rental properties, there is no limit on the amount of rental losses, including depreciation, that can offset your W-2 income.

We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.

This includes all structural drawings, exterior drawings, framing plan, mechanical plans, plumbing plans, electrical plans, gas line plans, roof layout plan.I tried to work with a couple of firms and the pricing for all these came all over the places.I also came across a company called flip16.com (September Development, LLC)  who said they can do all of the civil engineering and architectural drawings work at a fraction of the price compared to those civil engineering and architectural firms.