Here are the numbers:IncomeTotalPartner ContributionsManaging Partners Debt$0.00Partners Deposits$987,459.99Total Contributions$987,459.99Operating IncomeAirbnb Income$50,186.50Square Income (Vehicles or add-ons)$6,741.04Total Operating Income$56,927.54Total Income$1,044,387.53ExpensesPurchase of propertyCost of House-680,000.00Closing Costs-$26,744.44Total Cost of Purchase-706,744.44Set Up ExpensesHouse Improvements & Care taker home addition-116017.03Adding Tiny House-52130.83Furnishings-68403.65Vehicles-43150Set Up Costs and Advertising-2339.53Total Cost of Set Up-282,041.04Operating expensesCare Takers-14535.9Additional Cleaners-1505Cleaning Supplies-2670House Supplies-1340Landscaping-4230.66Utilities (Power & Water)-8204Internet-315Pest control/fumigacion -120Pool cleaning/maintenance-2220Vehicle Gas-552.3Vehicle Maintenance and Repairs-6625.01Welcome Food for Guests-115Property Repairs-4999.64Bank Fees-1208.06Accounting Fees-1085Insurance-955.74Other Expenses-1071.2Total Operating Costs -$51,752.51Total Expenses-$1,040,537.99Net Income$3,849.54Net Operating Income$5,175.03Now 5k for an investment of 970k is not a good investment.  

Instead, shut off the water to the toilet and place a sign on the door "Art exhibit: Non-functioning bathroom."

When looking into it, the basement had water damage that didn't worry us since we knew how to remodel that area ourselves.

In Oceanside, New non-hosted STRs are prohibited outside of the Coastal Zone as of February 10, 2024.Most HOA's do not allow rentals less than 30 days so that is likely not an option unless you find a couple of places on the water that allow it but usually tough to find below $1M. 

Lead water lines have been a big topic here and I imagine in every older city in the midwest and east coast.

In other news, water is wet.

- Do you want an ocean view, or is proximity to the water or to resort amenities like fine dining or shops most important?

While we were onboarding the property to the system and trying to figure out the automated sprinklers, he was out there every day watering the lawn by hand, stopping the buck and taking personal responsibility. 

From what I've seen, the days of the $1,000 and $2,500 deductibles for fire, lightening, water damage (not flood), etc. are becoming harder and harder to find. 

Fire hydrants, sewer, water, road access, electric, flood way or plain, storm pond, storm sewer, setbacks, fencing, soil compaction, lot sizes, etc.3.