Good luck with your future acquisitions. 

The few rules, may be missing some, to manage STRs:1)Own the listing2) The asset acquisition is the underlying investment.

Gross profit is interesting because it appears to just be the difference in his acquisition and sales price and fails to take into account the other obvious cost of running that business which includes, again according to him, the cost of over 26,000 letter print, mail, post, and the cost of the lists needed to create a mailer of that size. 

I live abroad, but I will be in Portugal in December and I'm planning to visit Entroncamento and talk with local real estate brokers and other locals to better understand the rental market there, to have more information for my analysis.I'm looking to locations close to Lisbon and with good infrastructure (transports, social, manufacturing, etc) with prices under 60k, because I think in 5 to 10 years, they can have  appreciation between 20% to 40% in some cases.Thats my experience with investing in Barreiro, In less than a year I have aprecciation around 20%-25% in 2 apartments that I bought under market value in the beginning of 2020 and rents are around the 1% of acquisition value.I also plan to talk with some banks to understand better what refinancing solutions are available in the market.Regards,Mauro

So my cash flow would be very difficult to achieve per my equity position on an acquisition today.The tougher to predict return is from appreciation.  

They can be great tools for funding acquisitions and supporting the BRRR strategy, especially for multifamily properties. 

In addition to expanding our acquisitions of distressed mortgages, we are launching AHP Servicing, a national mortgage servicer.

Perhaps in return they collect an acquisition fee,  collect a construction management fee & share in a portion of the upside.

Form an LLC using the name of the seller in the LLC, so if the seller is John Smith you form, an LLC with the name John Smith Property Acquisition Trust.

Most assignors in my area of Texas have virtually no concept of the real costs associated with an investment, including acquisition, hold, remodel and sale costs.