Hi William,I live and invest in Indy (I am on the west side). 

My answer is always a mix of: You’re overthinking it and work smarter, not harder.A lot of investors are sold on the idea that STRs are a passive income source—which, to an extent, they can be.

Either you misunderstood what was said, or you are extremely likely to get yourself into all kinds of grief following that line of thinking.   

His explanation is spot on. 

You just need the right plan and the right people in your corner.A little background on me—I’m a real estate broker, investor, and developer out of Rochester, NY.

We are located in Joliet Illinois and looking for properties in state or out of state.Want to hear your input on where we might find affordable properties I can buy with cash that are on the path to progress. 

You have to sell to realize your gains, and will lose on the transaction at this time.  

Congrats on your pre-approval and your plan to make Florida your primary residence while leveraging house hacking or short-term rentals (STRs).

I am responding as a consumer not a STR owner we had one its lasted for us for exactly one tenant then we felt it was too much work for the return  on investment we do much better loaning money and buidling new homes than to worry about people goofing up our homes :)I do have some MTR you know fully furnished homes in Vegas and those are money makers for us top of the line tneants paying double the going rate for rent.

Breaking even on your first flip isn’t a failure—it’s a valuable learning experience.