If you operate an STR, gross income is your total rent paid by your guests, before any subtractions.To figure out your taxes, you take this gross income and subtract from it all allowable business expenses: marketing, education, technology, licenses and fees (including Airbnb and credit card fees), office expenses, business driving and so on.

So the past couple years I have been flipping homes in the Myrtle Beach SC market.

Hi,When considering investing out of state, is it best practice to find a local lender in the market I want to invest in?

I hope to connect with people in the community, learn how to shop investments, find markets, and all things CRE.

If it didn’t take a long time to generate that cash(1 year or less), I would consider doing syndication and wait and see how it went, while continuing to educate myself on local market conditions for an investment property.

Glad to hear you've decided on a market, have a plan, and budget in place!

Knowledge of local markets, state tax laws and being a real estate investor are all important in your search for a CPA.

Brian Chesky (Co-Founder and CEO of Airbnb) said they have realized 5 major things to dominate this market. 1.

I am a seasoned marketer for Window Installers.

I have a duplex with one meter and I use a Sense (https://sense.com/) device to monitor the total KWH that the upstairs unit is using I then take the electric bill and split the bill up based on the amount of power drawn by the upstairs unit vs the total usage.