My wife and I use something we call the "One card" that we learned from another Memphis area investor.

Its a business that require a lot of TRUE liquidity.

The greatest profits are in properties that can be repositioned to a higher and better use, or appreciate the highest over time, or will throw off a TRUE cash flow of 20% per annum on total investment (cash + debt + capital investment). 

That is very true!

Most people who make a ton on Airbnb hire out designers, put in flashy amenities, and create a true experience.

If you didn't budget your rehab correctly, and don't have access to more money, you will be stuck (this is also true if you buy with cash without any excess money).  

I notice you skip right over who does the clean up, Jim, and who has to approve building in areas that aren’t defensible.I also see that now you admit that your fairy-dust belief that people “will” work with insurance companies to clean up is not necessarily true.

Is this true? 

Is NOTHING sells for a refi appraisal price  I  mean nothing that appraisal is always high.. so when folks say hey I got a refi and it appraised at this and I now have this much equity that is also not true and wishful thinking..

I received a lot of hate on here, almost like i'm a "slum landlord" which is not true at all.