We added a hot tub to our studio thats 6 blocks back from the beach and it won't stop booking.

So prompt responses to inquiries generally get the bookings.  

Hundreds of hours spent listening to podcasts and reading books on and off during that time kept the dream alive and prepared me to take the leap when an opportunity came up.I had received my real estate license about a year earlier to make some extra money but we were hitting a point in our debt and near future expenses that I knew I had to step out and make something happen.

On a rental that’s not generating income is it any different book keeping wise then you would for a rental that’s is making money Or what are good things to know or learn Thank you !

I used Hostaway for the last year and the they recently snuck in a 1.8% fee for our direct booking site.

Another great property management starter book was Landlording on Autopilot - Mike Butler.

In fact, I just tossed away an amortization book of tables that I've had for almost 30 years, when we were doing some winter cleaning - the lowest rate it went down to was 7%.

Additionally, consider operational costs like cleaning, staffing, and marketing, as they can quickly add up.For management, outsourcing to a professional property manager or leveraging tech platforms for bookings and operations could streamline things, especially if you plan to scale.

Quote from @Matt Weddon: Really what generated this question was a section from Brandon and Heather Turner's Management Book, which has been incredibly informative and helpful.

That's actually one of my pieces of advice for you... learn how to do your own book keeping so you know your P&L in real time at all times. 8) Hard to say without knowing the value of the place, CC&Rs, as well as any HOA fees/dues.