Then there’s city regulations—some places heavily restrict short-term rentals, so you’ve got to check the rules.If you find the right spot and automate stuff (guest communication, cleaning, etc.), it can be profitable.

If you would really like to explore the sector : why not go and message 10 to 20 operators and offer to look after their property or clean their property for a month in exchange for their knowledge and details on the numbers.

You have come to the right place to explore different ways to generate passive income.

However, vacancy means covering 100% of the expenses.Multifamily properties almost always generate higher cash flow due to multiple income streams, which also reduces the risk of vacancies.

Do you have a favorite service for generating leads? 

Very good resource for getting set up with STR property managers, cleaning services, realtors, lenders, etc. https://www.getchalet.com/

I have grown insanely skeptical of BP over the last 5 years, yet somehow I am trying the lead generation for both property management and now as a featured agent.

.: I haven't passed this past legal review so for what its worth: Part of my standard requirements for everyone include income is at least 3X rent, minimum credit score, say 640, Clean record and no evictions as well as deposit is paid in full at signing of lease and 1st month rent is paid in full prior to handing over the keys.

These individuals also seem more interested in the ancillary fees the portfolio generates as opposed to the underlying real estate.

If you need $5,000/Mo to replace your income and each rental property generates $300/Mo cash flow, you will need to acquire 17 properties ($5,000/$300).