If I didn't have systems in place and a very solid team, doing a real estate transaction can be confusing and very time consuming. 

When I first started out my approach was to consume as many podcasts as I could on the various niches of Real Estate Investing. 

I have been consuming podcasts every day for the past week or so, and just ordered a couple of books from J and Carol Scott, Mark Ferguson, and of course David Greene and Brandon Turner.

I assume he was speaking of credit card and other consumer debt, but that wasn't specified.

These projects are not only expensive to fix, but can also be extremely time-consuming.

I’m spitballing, but I think this will change consumer spending habits and NY’s ability to get its act together will dictate the prices of neighboring markets. 

Our attorney advised us to refinance into a consumer loan due to the fees being so high for a LLC.

LTRs are less time consuming to manage (as long as your tenants are good), but I still think STRs have potential for more profit.  

Went 6 months without a kitchen hahaThat orange Home store funded the whole thing with a consumer credit card.

There are a lot of costs that most people fail to account for.Sales taxesLodging taxesMarketingBooking feesCredit card feesRepairsCleaningLandscapingFurnishing the unitReplacing consumables (tp, coffee, soap, etc)Utilities, including cable/internetInsuranceThere's more I'm forgetting.