The high tax eats away a lot at the cash flow.

This does not align with buying most buildings in cash.Once you progress in your investing efforts you may come across more UHNW individuals, family offices and institutions who would take the lower return for limiting risk (all cash deal).

The cash investor who "saw the property on zillow" but doesn't really understand what REO means or how the banks operate. 

Personally, I would hang on to the cash.  

that's $100K+ in cash PLUS a solid plan to achieve for that return. 

I am glad you highlighted the management piece as this is a crucial part of buying in another market.Excited that you are stabilized and are generating cash flow on that deal. 

Even then, all of my booking.com clients are American I offer a 25% discount 0-3 days out. add a 15% fee which essentially covers your commission. set up with one hour to cancel, flexible / strict option but no refund 60 days out or later. sync it with Airbnb and or the other ones you are doing.

Properties like the Michigan complex offer a unique entry point, combining cash flow and significant upside potential.Immediate Cash FlowThis particular property is projected to deliver 6% annual cash flow from day one, already exceeding the yield of Treasuries.Value-Add RenovationsThe property includes hundreds of units that can be upgraded to Class A finishes, justifying rent increases.

A common strategy I see with diversification exchanges, is that the investor will purchase the first property cash and the second with a mortgage.

How should I think about cash vs. equity?