Compromises are made due to financial realities.  

I made a new friend here on the rooftop terrace of one of my condo buildings in Playa del Carmen.

And last summer I made around 10k each property each month in busy season.

It is easier to use as LLCs have requirements like separation of assets (personal and LLC assets are to be separate) in order to not be pierced for asset protection. 

., using a full-doc loan... if its schedule C, you would need to do a 2 year average of this income in order to use it. its looked at as a business, and self employment income. if its schedule E, theoretically you could use the schedule E income calculations just like any other rental even after the first filing.

I invested 80,000 into it in 2019 which immediately made the property worth $450,000.

Purchase price: $175,000 Cash invested: $125,000 SFR Downtown What made you interested in investing in this type of deal?

Look at the finances of the HOA, how big is the reserve, were there major improvements made recently (roofs, paint, paving)? 

When your systems are virtual, you can have the best people and not be tied to any one location in order to get things done. 

Some items I think should qualify, such as: time spent monitoring rehab progress/talking to contractortime spent talking to vendors & placing orders time spent talking to PM/CPA/attorney regarding my properties;time spent reviewing statements/invoicestime spent preparing mortgage application,  tax filingtime spent writing contracts with contractors, PM, equity partners etc Some items I'm not sure.