Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away.

The warm months are now approaching but, for the future, I'd suggest coming in aggressively low during winter months and looking for an 18 month lease to start - that way you'll renew in a better pricing period and see some income while you wait rather than spending three months with none.

You spend a giant pile of money before you make a dime of revenue.

So spending 200k on an ADU will likely not increase your property value by 200k. 

It's updated yearly and is the best $40 you'll spend as a Landlord. 

I'd say start the process of securing your HELOC if you havn't done so and spend time analyzing deals and determining what type of investor you are looking to be. 

• The “Tour Guide” makes the opposite mistake: they spend all their time pointing out flaws and justifying a low offer.

How many times can you spend $1500 to get an 88% return?

You need to remember that, hopefully, this is a long-term play for you, so work with a trusted STR designer (I have great recommendations), and spend the money upfront so you can be the most successful in your area.

You don't have to spend a fortune and buy a house directly on the beach to do well, but your starting price point for a viable option in this market is around $350-$450k for a solid 2-3 bedroom oceanfront condo or around $500k for a 3-4 bedroom house within walking distance of the beach.