I’m thinking about luxury condos for short term rentals since I’d occasionally want to have a place I can use for myself.With mortgage rates so high and HOA fees for many of these buildings at around $1k a month, it seems like investing in a condo in Miami is more of a game of price speculation.

Let me show the numbers; please let me know if it makes sense:Property Original Value $10,000,000.00 Initial Finance $7,500,000.00 Investors Money (Downpayment) $2,500,000.00 Ipotetical foced Appretiation New Value $12,500,000.00 New Downpayment/Equity $3,125,000.00 Refinance Principal $9,375,000.00 Cash Out from Original Investment back to investors $1,875,000.00 There are some MF investors that hold the property with no plans to sell and keep doing refinancing, and this seems to be the model applied by Ken McElroy.

@Aspen JayIt doesn't seem like the numbers make sense unless you can put more money down to lower the monthly payment which I'm assuming that is the largest part of your expenses. 

It seems like they just did a double closing.

Now I have seem many a person not claim their deductions on their returns.

Ya Liability protection and missed payments seems to be the reason.

That just seems like shuffling money around.

homes don't seem to be in great shape and block by block homes all seems to run down. 

Wow.It seems that in England a non residential building can be legally squatted.....?

If you are good at self managing and know how to play the Airbnb/VRBO game with all the picture tricks, word gimmicks, amenities stuff and you are actively on their platforms, it seems to still be a viable market for the good investors.