I've also filed my personal 2023 tax returns and have those available with the STR income included.

Regardless, I'm excited to learn and grow, both, my portfolio, and more importantly, personally.

My aim is to not only profit financially but to gain in the process some intangible assets, such as project management skills, getting to know reliable professionals (i.e. realtors, contractors, designers, etc.) for the long-term, getting acquainted with the local market's promises and pitfalls, and basically adding some entrepreneurial muscle going into my next project.My strategy is to go small: find a second-hand apartment in a good location (I don't have enough funds for a GREAT location...); no more than 60-70 m2 (that's about 650-750 f2) to, among other things, lower renovation costs; 1-2 bedrooms, street facing and with a lift (if said apartment is above the second floor); with good bones, i.e., needs only partial renovation.

While I am fine renting while I search for the right investment, my dream would be to build (for my own personal home).

My personal approach to this, I don't seek for a positive cash flow if I have bare minimum equity in the property.

I've done this with my properties because I'm well known in my small town and don't want people to know what I own.LEGAL PROTECTION: By placing your assets in an LLC, you are legally separating them from your personal assets.

HELOC's are used for personal expenses or home improvements.

Personally I work with one contractor on all my projects and he goes with me on my first walk through.

In any relationship, business or personal setting expectations up front can make the difference between success and failure.

I personally have 6 in the area but I bought before it got crazy.