Even if you’re not ready to buy yet, practicing this skill will help you recognize a great deal when the time comes.Feel free to reach out if you’d like to chat more—I’m happy to share what I know or help you connect with others in the field.

You don't mention if that's the case, but I thought I'd bring it up.You also won't be able to recognize any loss on the sale if that's the case.

I have had many conversations with her friends about the differences in our markets and  have recognized for a while now that there may be some mutually beneficial opportunities to work with Canadian investor specifically. 

However, my partners recognized my dedication and work ethic, and they offered me another investment opportunity.

@Jason Weidmannit's only solid if:1) you pick a market that you can go to in person and build a team first, and 2) you recognize that RE is a long-term investment, and you may have to wait 5-10 years, or longer, before seeing ANY return. 

Quote from @Ashish Acharya: @Andrew Katz Since you're likely using the cash basis of accounting, income is recognized when you actually receive it.

If you consistently analyze properties, recognizing a good deal will be much easier when it shows up.

Fellow Canadian here, If you're a Canadian do not use an LLC, Rev Canada will not recognize it.You also don't need a green card or visa.

Also, for those whose BUSINESS (as opposed to just investment) is STR, they can scale successfully while their experience and knowledge of the industry may allow them the opportunity to uncover and recognize those few opportunities that will provide a much higher than market risk adjusted ROI. 

Being highly analytical—perhaps to my own detriment—I recognize the need for guidance and support from a mentor to help me take the next step and actually pull the trigger on my first property.