ARV is very generous.

The bonus of Mexico is the cheap, short, easy flights.

I’m looking at a 20k bonus later this year (which my wife wants us to pay down debt with) but I think I’m going to use that to get started.

Obviously I would like to give them plenty of time to uproot their lives, but also want to balance being too generous or giving away way more than is necessary.Thoughts? 

Right now only about 1-2% of my revenue comes from GVR.I can imagine GVR becoming pay-to-play and you having to spend money to gain traffic from it at some point, but if you are working with a PMS that offers that integration for free (shameless plug of Hospitable.com 😉 full disclosure, I work there) then right now any traffic or bookings you do get are a great bonus!

If you want to be generous about it you could tell the tenants your operating costs are consistently going up (which is true), share the current comps with the tenant, and ask them what kind of increase they would be comfortable with.What are peoples’ thoughts on where rent’s should be set or the best way to get them up if you fall behind?

It also, currently only has one of the only STR options that has a true a live, work, and play mindset with a generous list of amenities, including restaurant. 

I recommend that, instead, investors view appreciation as icing on the cake, a bonus that will assist in the investment but is not the basis of that investment.

Additionally, you can do a cost segregation of the property and take bonus depreciation creating additional tax savings.Beyond short term rentals, I think buying a triplex or property every two years as a primary residence and then renting out the unit you lived in and repeating this every two years is one of the best ways to accumulate a portfolio of properties with little down with property tax savings while you live in the property.Then, it will be surprising how quickly the equity builds up as other people pay for your asset that you then can pull equity out and buy a larger apartment building after you have learned about property management from owning the smaller rental properties.To Your Success!

For example, if this $1,000 was spent on appliances, you can deduct it as maintenance which hurts your lending profile, or you can deduct it via bonus depreciation that does not affect lending.