You sort of noted in your opening comment: a track record IN REAL ESTATE, should be measured in decades, not years.  

I wasn't aiming for a high-end look, but I also feel that if I'm already putting in the effort then I might as well put in decent materials and invest in doing it right.This apartment is pretty small, 500 square feet. 

@Jerome Nunez Dissolving your LLC membership and removing your name from the mortgage can be complex, especially if you’re aiming to avoid selling the property.

The question is, what measure would you advise putting in your contract to help omit any ambiguity within the investor contractor relationship? 

Garry's book is on my list, I already read rich dad poor dad a few years ago although I might reread it once I have a empty list.I aim to invest in my first property within the next 2 years, and I keep my savings high while keeping a balance of fun and saving.

NCREIF (National Council of Real Estate Investment Fiduciaries) is a member-driven, not-for-profit association that improvesprivate real estate investment industry knowledge by providing transparent and consistent data, performance measurement,analytics, standards and education.

Here’s a quick rundown:STR Strategy: If you’re confident about managing an STR well, aim to stand out in the market and try to hit that $1,000/month target.

If you’re aiming to attract higher-paying renters, consider going taller (10-12 ft) for flexibility with larger items or small vehicles—this may boost interest and rental rates.

Aiming for each part of the business to eventually fund itself is a solid plan, and a real estate CPA or attorney could help fine-tune everything for taxes and structure.

If not, even though you are a re pro, losses are passive & deductions are limited.There are 7 scenarios that will qualify as material, and you only need to meet one:*500 hours*Substantially all participation*> 100 hrs and at least 1/2*Significant participation*5/10 years*Personal service activity w participation in last 3 years*Continuous participationTo materially participate, you must be involved in the operations of the activity on a regular, continuous, and substantial basis.Once you pass the pro test, the material participation often comes along for the ride.You can elect to aggregate all rental real estate for purposes of measuring material participation under Sec. 1.469-9(g).Your time spent on all your rental properties (STRs don't qualify) counts as one activity, making it easier to materially participate.In order to make a strong case with your CPA and the IRS you need to document your hours.Best practice is an hours log where you are as specific as possible.