Strive to build equity rather than focusing on properties with a narrow cash flow margin.

Randy Hey Randy,Thank you for the beautifully written response.

., yes, I've gotten lots of helpful advice and soothing here, but that doesn't take away from the beauty of what you wrote!

Challenges: Striving to not make the same mistakes that I listed on my main lessons learned!

We fought for this for several reasons: 1. tourism is our main economy 2. there are an incredible amount of dilapidated homes that could be renovated and made beautiful if the investment return justified it (which STR in a beach town could) and 3.this is a family-friendly, lower-cost and now COVID friendly way to travel. 

Why I Believe Striving to Build Passive Income is OverratedThis may seem like a disingenuous statement coming from a passive income guy, BUT, I believe that those looking to build sustainable look term wealth would be better off to downplay passive income.Passive income has a role, a large role, but one best utilized when a certain level of wealth has been achieved, and the holder of said wealth is looking to preserve capital and live off the income generated by passive investments.I hear many relatively new real estate investors say that their goal is to acquire enough real property to replace their earned (W-2 or 1099 or Sch C) income with the income be generated by their investments.  

Hi Matthew,I second the idea of skimming through the beautiful rabbit hole of Pinterest to get ideas and brainstorm.  

The lake's beautiful setting attracts tourists, making it a lucrative spot for STRs, especially during peak tourist seasons.STR operators in Oklahoma generally need to adhere to zoning laws, licensing requirements, and may be subject to taxes such as sales and lodging taxes.

It is beautiful out there but are people able to cash flow their existing STR. 

Purchase price: $110,000 Cash invested: $40,000 This beautiful 3 Bedroom and 1 and half Bathroom house is located in South Acres Estates subdivision.