Managing vacation rentals remotely sounds like a unique challenge..

Was last year abnormal or you think the normMy guess is you will spend a lot more than $200k on an attorney with benefits etc. but if it cuts down in expenses it definitely is something I would consider and even if it costs a little more, having control with having someone in house does reduce unknown costs and risks. 

Otherwise with the dwindling tech sector in SF, and the remote work (2-3 days a week) that is most likely here to stay, it just doesn't seem like a strong mid term market to me.

Our privately owned and centrally controlled monetary system, known as the Federal Reserve, and the legality of Fractional Reserve Banking is on a crash course for a battle between Freedom (Property Owners) and Royalty (the banks). 

Most owners who do it want to keep the option of having the building vacant when they eventually sell the place since vacant places sell much more easily then tenant-occupied ones if it's a rent controlled building.

Here are the numbers:IncomeTotalPartner ContributionsManaging Partners Debt$0.00Partners Deposits$987,459.99Total Contributions$987,459.99Operating IncomeAirbnb Income$50,186.50Square Income (Vehicles or add-ons)$6,741.04Total Operating Income$56,927.54Total Income$1,044,387.53ExpensesPurchase of propertyCost of House-680,000.00Closing Costs-$26,744.44Total Cost of Purchase-706,744.44Set Up ExpensesHouse Improvements & Care taker home addition-116017.03Adding Tiny House-52130.83Furnishings-68403.65Vehicles-43150Set Up Costs and Advertising-2339.53Total Cost of Set Up-282,041.04Operating expensesCare Takers-14535.9Additional Cleaners-1505Cleaning Supplies-2670House Supplies-1340Landscaping-4230.66Utilities (Power & Water)-8204Internet-315Pest control/fumigacion -120Pool cleaning/maintenance-2220Vehicle Gas-552.3Vehicle Maintenance and Repairs-6625.01Welcome Food for Guests-115Property Repairs-4999.64Bank Fees-1208.06Accounting Fees-1085Insurance-955.74Other Expenses-1071.2Total Operating Costs -$51,752.51Total Expenses-$1,040,537.99Net Income$3,849.54Net Operating Income$5,175.03Now 5k for an investment of 970k is not a good investment.  

You can, for example, control a $1M asset that appreciates $30-50k per year with a $50k down payment plus closing costs if your DTI is in good shape.

We understand that not every lender will provide us with a commitment letter due to risks outside of our control (the market, covid, the borrower, etc).

Even with trump's aggressive plans for mass deportation and border security, I also have to think long term about future presidents' agendas towards border control too, and anticipate potential presidents being more loose on border security.

If anyone else has a favorite strategy or tool they use to keep tax prep under control, I’d love to hear it!