Our recent fund was a preferred return plus a split on profit after expenses.

Like I see how it could work in a perfect world but i cant wrap my head around the idea that I could be making a profit if I still don't actually own the house and still have to pay down all of the loans.

All of the multifamily I have looked at in my area are not profitable due to prices being much higher than rent currently.

This gave us peace of mind and ensured that any unexpected incidents wouldn't result in major financial setbacks.These two choices have played a crucial role in optimizing our STR strategy, balancing profitability and protection.

>>For purposes of taxes, consult with a CPA to confirm this would work for your situation, but you could have the LLC be treated as a "disregarded entity" and thus, even if you and your wife are members, any profits/losses would "disregard" the LLC and go directly on your personal returns. 

Getting a base 8-15% return instead of 2-3% before actual “profit” puts you way ahead of the cash buyer. 

After months of reassemble and some customization work, the property sold for a decent profit.

Look for ways to increase profits but without cutting corners.

I do by the room and house hack, and for now I self-clean (takes me 10 minutes) and make way better profit than if it were a whole house rental. 

I never liked Airbnb's or VRBO's pricing structure because it seemed more like they set a price that will get you booked so they can get paid, and not necessarily for the profitability of your listing.