Does anyone in a similar situation Cover the cost of Hostaway (or other pms) by charging the property owner for the expense?

The Bay Area is a very expensive housing market to get into, for me, it’s more financially feasible to start investing in the midwest.  

Currently it would be a break even on expenses estimated.

For instance, spend $10k on a kitchen remodel, increase your value by $8.5k (or whatever, but it's always less than the expense).I figure I must be missing something, because BiggerPockets is full of investors talking about their contractors, etc.

But I have lived in Asheville for 2 and a half years now so I can give you a bit of input on what I'm seeing in the market here.First off, the living expenses here are outrageous.

Our monthly surplus income, after accounting for all expenses, amounts to $3,800, providing a solid foundation for potential mortgage payments or land-related expenses.While I am confident in the value of the land to my operations and its long-term potential, I recognize the importance of careful financial planning and strategic decision-making.

Not only that, but an all debt deal is just a terrible idea for a first timer as it won’t cash flow with today’s rates and the first unexpected expense slams you into begging mode.Save, save, save.  

Learned to cut that expense, upkeep, etc., and from what I'm learning, just one less thing that I have to worry about as far as inspections.

Do I need to use form 8825 to report the expenses, even if we have no properties? 

Here I'm thinking what's your current expenses like in your home?