Step 3, I have to save the difference between what I spend and what I earn.

Hey Account Closed - Check out your competition with furnished finder that is where a lot of Medium Turn rentals list their properties.I have a MTR in Chicago that has been decently successful...whatever I have found throughout my entire life and investing career is it is never one property/deal that is a grand slam...Rather, the grand slam is done by hitting many singles and using systems and processes to scale your operation; the combination of scaling and experience in a niche of real estate allows you to hit unlimited grand slams because, unlike baseball, real estate is NOT a zero-sum game.

I had some success in my career but did not know my back side from 3rd base as it related to real estate.

Your annual earnings will be $4,500 higher, even with a two-month vacancy. 

Do you know if it is possible to have a tax deduction for interest/profits earned on promissory notes/PML?

Its favorable location in Detroit and demand for local housing presented a straightforward profit path, allowing us to quickly flip and earn, making it a strong choice for Partner Driven and Rod King.

How can any of these answers even help you if we don't know where you live, what your goals are, how much capital you have saved, what you earn, what your why is, and like a hundred other things.If you want a tip that will really help you it would be to provide some background first and then ask a tighter question based on what you have read about or listened to on podcasts.

Also, there are tax benefits that you cannot get with most investments, you can borrow 80% of value, while it still earns a return.

As a fellow Northerner, I tend to buy in the Southern half of the US for 2 reasons:1) you get much higher year-round occupancy rates in the South & it’s simply tough to earn a good ROI in the North if your place sits vacant for a big chunk of the year2) Culturally, the Southern half of the US seems to be a lot more accepting of STRs regulation-wise.

The cash flow you earn from rentals will likely be best spent on maintenance, unexpected expenses, and reinvesting in future opportunities.