It does however give you a degree of independence to choose what you want to do.As your portfolio grows you'll also feel the weight of future capex responsibility more, which ironically points you to growing more cash flow through more real estate.The other issue is that you are chasing a moving goalpost.

That said, you have to be comfortable with your risk tolerance - are you going to keep yourself up at night? 

The lessons you learned the hard way in 2008 will be invaluable now, and it’s great that you’re aiming to stay small-scale and within your comfort zone of Sacramento, which gives you an advantage of knowledge in that market.Given your experience, I'd say start by focusing on three key areas to build confidence and minimize risks:Budget Control: Over-renovating was one of the big mistakes you mentioned.

Some of the materials we choose and asked him to pick up (such as flooring) he replaced with low quality materials, I assume to keep more of our money for himself. 

To try to answer this myself I read this on their website (#8 in the list):Choosing to compound in the 3-year, 12% targeted PPR fund increases your overall annualized return to 14.3%.I also read through the compounding examples in PPR's offering.

My Question is, for these up sales how do you expose these packages to the guests, are they included in your listing or added to the base price, if a guest chooses a package do they pay for the reservation how they would normally through the booking platform then pay for the package separately?

Ensuring you choose the right roommate is so important.

This takes a little more work, but it's the fairest and reduces the likelihood of tenants that squander utilities.If you choose #2 or #3, there are considerations:Start with an average.

The biggest issue is that forgetting to assign a location or choosing the wrong one can mess up your balance sheet, leading to inaccuracies.

Get out of your comfort zone.