Focus on building cash flow and equity while targeting value-add opportunities to transition into shopping centers and strip malls over time.Good luck!

Avoid common pitfalls like skipping due diligence, underestimating repairs, and overleveraging having reserves and a strong team is key.Good luck!

I believe you can deduct the other business expenses (home office, supplies, repairs, maintenance etc) - but the bulk of it (depreciation) is likely passed on to later years.So first house 2021 - I'll assume 250k purchase price and you put roughly 20% or 50k down. 

As far as the 1099, that is for payment to owners if you manage for someone else or your vendors whom you pay for repairs and maintenance. 

You will also need about 6 months of reserves deposited in a traditional financial institution rather than a crypto account.The next step is to find the target property and calculate the acquisition costs and costs of construction along with the after-repair value. 

I personally would sell the house - it's negatively cash flowing ~100/month, if you were to add in repairs/maintenance, CapEx, vacancy, rising insurance/property tax costs I would think you're actually losing more than you estimate (luckily it's new so you are on the very low end of that right now).

Probably they make it up in upcharges on maintenance repairs, or they will keep all your application fees, processing fees, tenant charges,pet fees and charges or make ready or something somewhere. 

@Tom Dieringer After purchasing my first property in 2024, I acquired most of my short-term rental (STR) knowledge from The Short Term Shop, which included maintaining respectful communication with guests, keeping calendar availability up-to-date, and ensuring high-quality listings.When I initially began May of 2024, I opted to list my property exclusively on a single Online Travel Agency (OTA) - Vrbo.

I'm here on the forum to better understand - how others would navigate a similar scenario.I guess I'm still shopping for the ingredients to determine if there is a 🍞 of bread and if I should even attempt to bake it.

That, more than anything will help you answer the question "how much do I need to estimate for repairs"?