Hello Shannon, I am in the preliminary stages of my journey as well in the New Orleans area, I am trying to build a team of just networking that we can build off on and support each other on the path.

There are different stages of adding valueHypothetically if I would go back 7 years and own a piece of land outright with zero experience..I would spend money and pay a few consultants and engineers to get approvals for the best use of the land example 300 unit condo building..

As I understand it, an increase in demand in excess of supply leads to an upward price change.

As a landlord, I think having that payment in full would be more reassuring in case the pet does cause excessive damage.  

We want to build a fire pit so that we can host people and burn the excessive amounts of firewood on our property.

the foreclosure process can be a long process but if you finding the house in the very latter stage it will likely be a challenge and you'll be rushing through things to try and make it work.  

There are obviously a few stages to the BRRR model, so look at each one and evaluate how "good" are you at that particular stage.

To the extent that your net is a loss on the property because of excessive depreciation, you can only deduct the loss against W2 income if you (or your spouse) are a real estate professional (and file jointly), or if your W2 income is $100K or less.If your spouse is not employed in a W2 job they should generally be able to qualify as a real estate professional if you are self managing an STR but then your spouse actually has to be the person doing the STR work... 

The resulting large purchase amount (typically in excess of 40%) combined with poor cap rates result in coastal Ca having some additional hurdles.  

Right now, I am in the beginning stages of real estate investment spending a lot of my time educating myself.