Typically the terms are not as friendly as regular residential loans though.

It will cost you more money to get your books updated on a weekly basis than if you needed it once a month.3) experience level of the bookkeeper - those that have accounting degrees or those that have more experience will cost more.A word of caution - an inexperienced bookkeeper will cost you more than the $$ you pay him.

@Mark BroganThe IRS tax reform made many updates to the "entertainment" portion of meals and entertainment.In years past - you can take employees, contractors for a meal and deduct it so long as business was discussed during before or after the meal.Now that is disallowed starting in 2018.There are some workarounds but its harder to do it with contractors.

Soooo much of Virginia Beach was built in the 80s, you could find tons of places that have been kept in decent condition and just need updates.

Someone needs to take the reservations, communicate with guests, and keep the calendar updated.

We have plenty of regulars to pay the bills, and my wife is getting a graphic design degree and will be transitioning to freelance employment in that field. 

I'll have to factor the insurance component in my cash flow calculations a bit more, and it definitely narrows down price point for me.Thanks again and I'll update ya'll on my progress!

I guess updating my location for this post made the meetups section work :)Now on to figure out keyword alerts... :)

@Elizabeth Zielinski nice to meet you and one thing I would say is to look over their lease and inform them at the end of the current one they will be rescreened if they have had issues in the past and a new updated lease with verbiage specific to your company would be coming. 

Understanding the economics drivers of the market can help you understand the type of people that are looking to rent in your market (i.e. pay you rent once you buy a property).After knowing and understanding your market & analyzing deals on a regular basis, you'll begin to understand how the process works of making an offer.