You need to think about not just the potential income but also the potential problems such as city ordinances, state law, insurance, potential eviction issues, etc.

For instance, cities like Chicago are known for landlord-tenant laws that skew heavily in favor of tenants, and that risk should be baked into your underwriting.What’s your take on balancing short-term cash flow with long-term equity growth?

At the very least you get practice running numbers and if you share your thoughts with the realtor they will have a better idea of what you are looking for in the future.

Presidents do not change tax laws.They can issue pardons and various executive orders, but changing tax laws can only be done by Congress.It does not matter what tax laws Biden or Trump want and promise.

Invited one of the neighbors over, with his visiting father in law. 

Quote from @Felicia Richardson: Quote from @Jonathan Greene: It's possible, but not always practical.

Besides the failure rate, wholesaling is legal when done right, but most programs teach you to practice real estate without a license which can get you in trouble. 

I sat in on a lot of the meetings with owners/city and it seems for the most part to me, the city is just not interesting in AirBnB and as an investor, that's not a good place to be or be right.There will always be probably a few people who skirt the law or think they have a good workaround, but often catch 22. 

You represent and warrant that you are not a person or entity barred from using the Airbnb Platform under the laws of the United States, your place of residence, or any other applicable jurisdiction.

While it's something I think is not taken seriously enough by society and the law, it's just far to common amongst all classes of people.