This is not including any financing costs and closing cost which can easily bump that number to 23k. 

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.

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).

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.

Yup, JUST LIKE EVERYTHING ELSE INCLUDING RENTS. 

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.

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.  

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. 

It’s not perfect—“stuff” always happens—but the most important part of any loan is that the borrower makes a fair profit.