Remember, there are no economies of scale to small structures, so everything will cost a lot more than you'd expect, and your $/sqft cost is going to be astronomical.

Also check the specific rules of the condo-tel for renting, some of them goes from only allowing rentals through a "hotel program" in which you split 50% of your profits but they will not share 50% of expenses, others give you the option to rent it by yourself, but they charge an app/resort fee that will be about a couple of hundreds of dollars.Also take into account city regulations and permits, normally you will need a STR license with the city and a license with the state which will cost a couple a hundred dollars annually.Also keep in mind, cleaning and supplies expenses, maintenance, re-furniture, STR insurance, Building SPAs and bad clientsI'm not saying is not profitable but, with a bad LTV and the high cost of this kind of business most likely first year and second possible you will not break even.

@Tony Johnson You have to sign up for a bulk mailing permit to buy stamps at a cheaper rate.You have to send more than 200 pieces each mailing and it cost a misely $200 a yr..They have other restrictions like all the mail hs to be the exact same, the same font the same size...etc....and you can get the live stamps in a rollHowever they have it set up to upfront you only pay .10 cents for the bulk stamps, so that allows you to take them home and put the stamps on them.

I bet dragging your attorney to the state cost a few bucks.I think this trend will continue nationwide.. and folks that want to wholesale should just figure out two simple things.. one get a license to do it legally or MONEY to buy then resell . you can always sell your own property and you can also work as a Realtor.

Often the 3-day training will cost a couple hundred dollars up to maybe $500 or $600.

Yes they do cost a bit more to form entities but the quality and knowledge they produce is very good in my opinion.

  : )On a serious note, rarely does it make sense to spend $1 in order to get back $0.50, both in tax world and in the business world.Generally businesses look at the ROI associated with each cost. 

Well I was off on the selling fees, used hard money on the buy which had higher buy costs than I expected, didn’t close on the sale for 90 days so had several months of 4 figure interest, and had a sewer issue that cost a pretty sum to fix.

When I talked to Wells about 6 months ago about a LOC for an LLC she said it would cost a point of the limit.Credit union would do with no appraisal or fees.

What I mean by that is that older homes that cost a resident $300 - $500 a month to heat or cool do not stay occupied for long.