There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

Even the best retail agents still lack the operations and understanding of what makes a good deal, especially if they do not invest.  

It’s a well oiled operation to collect money then give you vague updates and excuses.

Paul has started at least 3 separate threads in the past few days announcing to the world the success he's having with section 8 rentals and repeatedly reminds us he doesn't have a clue how to calculate the true operational costs associated with these properties. 

Once it is operating, it doesn't require a ton of time, save & except when you have an emergency come up.

After multiple attempts to stabilize my operations, I was compelled to file for Chapter 11 bankruptcy.

Paul and I operate 10 doors in North Iowa.

Some operators really need better training and education and drag down the great operators who are doing it right and offer a great service and product.

Now you are saying you have no experience owning/operating an STR, that's another hit.  

So your super basic P&L may look like: $30,000 Rents-$3,000 insurance expense -$9,000 interest-$3,000 taxes-$8,000 operating expenses-$14,000 depreciation ----------------$7,000 loss on paper for the year  so negative taxable income But remember- $14k of that (depreciation) was something we didn't actually spend money on- so cash in bank at year end would be $7,000.