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. 

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. 

I have a small contractor business here in Abilene that is pretty new, owned and operated by me if any of you guys need a hand.

My wife and I owned, operated and sold five RV Parks; three to individual buyers and two to Blue Metric.

This means an LLC with an operating agreement specifying the IRS regulations regarding prohibited transactions, disqualified individuals, and others.

I had one short term rental that was granted a permit earlier this year and I have been operating it for months now as an STR.