My best advice would be to begin networking as much as possible and find a mentor.You've already taken the first step which is gaining knowledge.

I don't know what I have to gain about doing otherwise.If ANYONE would like to chat further, please DM and I'll send you my cell phone number so we can chat directly.

Quote from @Femi Alakija: As a newbie, I plan to gain a deep understanding of real estate fundamentals, including financing, property evaluation, and market trends. 

Very large out-of-pocket medical expenses are also part of this game.Balance gains and losses on your investments.

Major cities where STRs have only began rising up and gaining public spotlight with the rise of AirBNB are more likely to have more shifting and less stable regulatory environments since those areas are still in the process of trying to find the balance for STRs within their markets. 

But starting with single-family can be a great way to gain experience and confidence before tackling larger deals.If you were someone I knew personally, I would probably suggest multifamily, but it's not for everyone.

Upon sale, gains are taxed as long-term capital gains, calculated as the sale proceeds minus your adjusted basis (initial investment reduced by any return of capital).

It takes longer to realize, but the gain is worth so much more than a couple hundred dollars of cash flow a month.

Remember, thinking long-term and taking imperfect action is key to building wealth and gaining experience.Good luck!

It just feels like I’ve been making a lot of short term sacrifices for long term gains and I have to be really diligent with money management. or I could also just try to borrow money for the renovation, and pay off the line of credit over time, but I feel like that really would limit me and if the stock market(my collateral) went down I could also see some trouble.