Any info is much appreciated.Thank you.If I can help as a Realtor (who lives minutes from Splashtown), contact me!

But instead of getting steered in a direction of right/left per your example, I'm told "you shouldn't be messing with concepts you don't understand" and "it's not simple, go get some advice from a real tax pro" who in all likelihood will just be an accountant who files taxes for a living and has no real experience with these concepts and will tell me it's not worth it, like Mike did. 

He was charged around $4k for legal fees to remove the tenants, and $900.00 for each eviction and removal by the property manager.

Many properties are zoned for 1 rental per 7 days and do not allow nightly rentals.

I know you aren't MY tax professional, but if you have a minute, to let me know your thoughts I would greatly appreciate it!!!

Look at your monthly payment (PITI = Principal,Interest, Taxes, Insurance) + HOA + (other maintenance fees if any) and if this amount is less than what you charge for rent (whether its Long, Mid, or Short Term rentals) and you are happy with the positive cash flow, then yes.Or maybe you're breaking even with the condo but you have  knowledge that the condo will explode in value due to some business/attraction/law/policy that will prop-up the sales price in the near future, then yes.Really, it boils down to what your goals are for this first investment.

You'll still need to do some of your own leg work when vetting tenants, but it's easy enough and will save you the ~10% management fee.

If you are going to own property you need to keep a certain amount of reserves per property in an account and not touch it unless it's being used for that property. 

@Rodney WestWe do 20Flips/BRRRRs per year in Jacksonville FL and we use a hybrid approach.

28 months to make up $700 increase per month at a $20k rehab (which depending on scope, may be underestimated).this doesn’t include lost revenue from vacancy while completing the rehab.