They texted and called multi times daily asking for more money. 

"Vetting" costs a lot of money.   

When you are a PM starting out you start to make money around 10 properties but then you need to hire and you are back to making nothing, then you grow to maybe 20, make money, hire and then back to making nothing. 

If you're wanting to do something for the purpose of passing on to your kids, an active rental business is more tangible, but if you have no experience, and you could make more money investing passively, it would make more sense to leave your kids an overall greater sum of money. 

This way, all income and expenses related to the cottage can be run through the new LLC and its corresponding bank account.Additionally, make sure that you’re not mixing or commingling any personal transactions with your business transactions or transactions between the different properties to maintain clear separation and avoid potential issues.

I personally like doing BRRRs on multi-family homes that need work but not extensive remodeling.

Hopefully their deposit is higher than the damage, but if not, you can document everything and try small claims court, but honestly it is not worth your time as you are unlikely to see the money if you win. 

You potentially get taxed twice on your money. 

Remember, not all money is created equal.

Make more money.2.