You do not want to purchase the property only to learn that the tenants are six months behind on the rent and are vigorously fighting an eviction lawsuit.

Yes, I have gap funds for a situation that may never happen like when people spend their whole life practicing karate and end up never getting into a real fight or more on point, losing that fight because of your Karate because it gave you a false sense of security when walking away was the better choice.For example, if something happened and I needed the $1,500/month that my unit earns, well, I have to live off of $1,500/month which may not be enough.

Thank you for constantly fightig the good fight, Scott.

Welcome to A Skeptical Dude’s Take on Real Estate: a frank, hopefully insightful, dive into real estate and financial markets. From one real estate investor to another.
Coming at you live from Nashville, TN.
Fuel ...

Upon looking into regulations I found out about the local community fighting hard against them and making it more difficult to operate.

When it falls, they may reimburse you for $1,000 max.I used to fight insurance for this issue and finally we won. 

All I will say is that in my 63 years of being on this earth and seeing how bad divorces are , families fighting over properties , and partners in business at each others throats .

I am sure my CPA will continue to fight me if I don't have any documentation to prove this. 

@James LauerThis is why all STR hosts need to ban together, the sooner we unite, the faster we can respond to these laws and fight appropriately.

Surely you have some boots on the ground fighting the onsite battles for you right?