Get a mentor.

This would be a great point in your journey to hire a mentor!

My mentor said that doesn't sound right and sounds like double-dipping.

Yesterday the Palm Springs City Council voted in additional restrictions on the number of bookings per year, number of permits allowed per neighborhood, and also created a new "Junior" permit which allows 6 bookings per year and bypasses the cap on neighborhood permits.Im curious if this will change anyone's strategy in the Palm Springs market or are there those of you still able to turn a profit despite the new restriction on the number of bookings?

Please don’t be fooled…YOU ARE CORRECT…There are too many people WAY…overspending on “ investment” properties….therefore… with mortgage debt too high… there …IS … no cash flow..To be perfectly honest and a little mean…… I am tracking the manes of the mentors and gurus in my town that aren’t raising hell about over spending…When / if the next crash happens, they will be all over the REIA circuit selling foreclosure and short sale courses…And I will be there too… asking open ended questions that lead to no other answer that… THE REIAs and the GURUS were a part of the reason that so many young naive investors went BK.and… yes… if the crash happens… I am locked and loaded.experience in Short Sales.. ( worked …IN… Bank of America’s short sale department… so I KNOW the process from their side of the transaction)killer cashKiller creditkiller Instinct

Start growing your network, look on Facebook/BiggerPockets for different events, find a mentor doing what you want to do, and get to know the local lenders/brokers.

New investor here, I am seeking for some help to make sure I am not missing something in the partnership I am entering into with my Mentor.  

BiggerPockets has a section just for this, Under the NETWORK tab- Meet uphttps://www.biggerpockets.com/...I highly recommend finding a realtor or mentor in your area that can help guild you to what COC, ARV numbers might be in your market.

My friend/mentor @Joe Mueller started it a while back specifically for investors.Happy to make an introduction if that would help.

My realtor/mentor said it could be in the basement or foundation and if I purchased a home there I could be dealing with issues that come up from it.