You really need to hire an attorney if you are thinking about taking a gift from your parents.

& to answer the rest of your Q, some things that will noticeably affect your revenue:- making the place instagrammable, multiple areas/corners that make for awesome photos- heavily investing in professional design/decore- UNIQUE STAYS!!

I have never had the money to hire a attorny until hopefully this week. 

Sanjeev Advani, a beacon for professionals and investors alike within these industries, offers a deep dive into strategies that promise not just survival but prosperity in these competitive fields.Navigating Real Estate with AcumenThe real estate market, with its cyclical nature and regional nuances, requires a keen eye and a forward-thinking mindset.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Once they hired a personal adjuster and started sharing the story things changed big time. 

(A commission that should have been paid out of the retirement funds is allowed to stay in and compound.)Personally I would hire an unrelated brokerage and give up the couple percent.

Expand your knowledge and connections in the real estate industry by attending networking events and building professional relationships.Make sure your short-term plans match up with your long-term objectives and consider looking at different markets with positive economic indicators, job growth, population growth, affordability, and rental demand.

You will be able to claim the expenses (i.e. depreciation, property tax, utilities, etc.) still every year but the rental loss will be limited if you are not a "real estate professional"

Networking with other investors and professionals in your area can also provide valuable opportunities and insights.Set Clear Goals and Plan: Define your financial goals for the next 10 years and create a plan to achieve them.