Make sure you retain reserve funds to cover maintiance/repairs.Unless you have plans to build something on the land I would sell it and reinvest in something that has real value.

It has a nice yard on the water but the water comes up to the retainer wall, no beach.It's been told to my family the long-time owner wants to sell.  

Also i have my attorney on retainer so that's just a monthly fee.

I try to study at night or weekends but I'm usually so tired I don't retain much.Just curious about other people's experiences with it.

In particular, I would want to handle the front-end (e.g. reservations, availability, pricing) on my own but would seek to retain someone to do cleaning, servicing, key exchange, property management, etc.  

This would be "retained earnings" absent any distributions, but enough geeky corporate finance stuff.

What % cash buffer do you retain?

He/She still retains ownership of the property till there is a sale date held by one of the lien holders.5) Fraud.

There is some added expenses that can come up with the retaining wall etc.

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