Declining rates and demand coupled with excess supply is making the STR business harder than ever.

I just cringe every year i have to pay that its for gross revenue in excess of I think 1 or 5 mil..

I was left with an excessive water bill ($10k) at my 4-unit property as they failed to fix a water leak, which I complained about once I noticed a spike in the water bill.

(No kids, excessive debt, responsibilities that come with age, etc.)By the time you reach 21 onward your experience level will be that of a budding pro when others may not even have begun which would be incredible for you and would carry a lot of momentum.My biggest advice in the wholesaling world would be find someone who is doing it and doing it well, ask them to bring you on for free or very minimal pay and absorb all of the knowledge in return for time and effort.

Because of the condition, you may have to go to the Excess / Surplus Lines market (ie.

There are standard carriers and Excess/Surplus markets for that coverage. 

For instance, if the cash value exceeds the total premiums paid, the excess amount is taxable as ordinary income.Risk of Policy Lapse: If the policyholder cannot maintain premium payments, the policy can lapse, resulting in the loss of the death benefit and potential tax liabilities on the cash value.

Once you've accumulated sufficient reserves for the property in this account, you can then use the excess cash balance to sweep over to your personal account as profit distributions.The key here is keeping the entities separate. 

A leak, a drip, where is the excess moisture coming from and deal with that source (if any). 

Yeah, it's an interesting model--I can see how it could work really well in some scenarios and not work at all in others. ...for one thing, you have to use furnishings that in-line with the look and grade of the property, and which are appealing to the typical tenant--which I'm sure can be a bit hit and miss...   ...I suppose that one hidden benefit with a furnished unit is that you don't have so much wear and tear from tenants moving furniture in and out, hanging pictures on the walls, etc....I just finished a rehab at a LTR property--the tenants were pretty good and didn't cause any excessive wear/damage, but even then, there's always a lot of patching and re-painting that needs to be done after long term tenants leave....