Could VRBO users from Michigan provide some clarity about the topic of sales tax/lodging tax collection and payment to the state.

Both offer unique advantages, but understanding the trade-offs is crucial for making the right decision.

No, but they had their heyday after the California Wellenkamp decision.

Shedding more light on the topic of affordable housing in general... 

Both times I was happy with the decision, so I think either decision will be fine, pending your location. 

If you acquire one new property each year, you could significantly increase your wealth and potentially position yourself to qualify for larger investments, like apartment buildings or construction loans, within 10 years.I’ve worked with clients who have successfully implemented this strategy, and it has proven to be an effective path to building long-term financial freedom through real estate.Good luck with your decision!

@Joey Chalhoub This decision should be read narrowly to address statutory frameworks such as MN where state law permits it to take property to satisfy real estate taxes/penalties/interest, sell it, and keep any surplus outright.

Also, the whole point of hiring a PM is to handle tenant, maintenance, and rent collection, so if your partner isn’t actively managing but just supervising the PM, IMO not worth having a two people essentially looking over the same tasks.Contributing financially for one person and the other having no financial stake raises decision making questions, such as when to sell, how profits will be distributed, etc.

The decisions and actions you make today can lead to incredible long-term benefits, so it's great that you're starting now.A good starting point is connecting with a lender that aligns with your goals.

Together, the property nets us roughly $1,400/month after expenses.Equity Split: My partner owns 60%, and I own 40%.I'm exploring ways to take out my equity without disrupting this deal, as I feel this isn't the best financial decision for me right now.