This property gives me significant income, so losing it would be an extreme loss.

A number of things seem like memory loss. 

You will have more success finding LP partners to fill the rest of the capital stack alongside of the construction debt.

Most markets are competitive and a mere $10 a night could cause someone to book another property over yours which could cause vacancy and loss.

So all in all - it was a relatively easy learning lesson and not much loss on my end.  

You reduced the amount of untaxed capital gains you’re carrying forward but you didn’t create an expense or a deduction today.

Once you’ve built capital, transition to small multifamily units using DSCR loans for steady cash flow.If you need help analyzing deals or securing funding, let me know.

I feel like a condo would allow me to: 1) Get experience and my foot in the door with little capital.2) Protect me from getting wiped out by an unknown capex expense.3) Potentially house hack.4) Not feel bad about burning money on rent. 

.; and capital to pay for options, marketing, legal counsel, accounting, tax advise, etc.  

I’m getting ready to make my next move in 2025 and I’m contemplating on staying here and buying a multi family property as an investment out of state (only an hour away) which would be a lot less capital and have a lot more land lord friendly laws or buy another multifamily as a primary residence locally and hack that property I’m single and live alone.