After enjoying a net income of $36,000 per year on a net $67,000 investment, I sold the real estate to the operator for $335,000.

If you have other great amenities that people can enjoy together then the kitchen will be an afterthought. 

Dad can put properties into trust (or whatever) as he goes along.Once Dad drops off the twig, then you and sis can enjoy the stepped up basis and the knowledge gained, and know that Dad didn’t feel like he was shunted aside. 

We sold one property this year where we wrapped the 4% mortgage note into a 10% note and as a result are enjoying a 17% annual ROI for a minimum of 2 years and possibly as long as 10 years if the borrower/buyer does not pay us off early.After 40+ years of real estate investing, in many different markets across the country during many different economic climates, both in residential and (primarily) in commercial, I can tell you that hard and fast “rules” should be constantly evaluated to see if they are limiting the opportunity to “jump start” your wealth building.   

I'm trying to enjoy my morning coffee.....

It is done once, and the game is over.Myth 2: My STR can sometimes be enjoyed by my family and friendsOf course, you're entitled to use your own property any way you want.

I enjoyed your podcast episode.

But I can consider rolling some of my retirement accounts into a self-directed IRA and investing in syndications that way if I wanted, and still enjoy all the tax-free growth in my retirement account.• Bonus depreciation is winding down, as many of us know.

It's a long term relationship that you'll want to build so might as well do go with someone you enjoy working with right from the jump. 

Additional Comments: Laid back personality, social but also enjoy my alone time too.