Investments are investments- I think everyone understands that there is no guarantee for the return, but many potential benefits including the payout coming tax-free.

We simply include the tax on the invoice sent to guests, which makes it easier to track and ensures we're covered for tax purposes at the end of the year.For Chicago, I’d recommend checking directly with the city’s tax office or a CPA, but generally, you’ll need to register with the city, collect the hotel tax from guests, and remit it on a regular schedule (likely monthly or quarterly).

Once you invest in a fund, you've relinquished the single most important control valve you have: determining what investments your hard-earned capital goes towards acquiring.

Some states are easier than others; however, it is important to understand the process and laws of owning properties in another foreign state.

You can also find a lot of wholesalers on FB groups but as always it's important to do your due diligence. 

The cash flow of $304/month is reasonable, but make sure to include a buffer for unexpected maintenance or repairs, even with a full gut rehab.

While I acknowledge that Long Island may not currently be the most optimal location for the BRRRR strategy, I am eagerly exploring opportunities in the tri-state area, including New Jersey, Pennsylvania (with particular interest in the Poconos), Connecticut, and beyond.

Our average monthly revenue is $2,675.We have had 46 stays so, $4,600 in cleaning fees (the cleaning fees are included in the avg $2,675 monthly revenue) If we have someone clean it, it costs $100.  

Yup, JUST LIKE EVERYTHING ELSE INCLUDING RENTS. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.