And keep an eye on how your Airbnb is doing so you can keep improving the guest experience and making your business run smoothly.Good luck!

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.

This means you need to report your rental income on your tax return, which is usually taxable, but you might be able to take deductions for rental expenses like mortgage interest, property taxes, utilities, repairs, and upkeep.When you work from home, you can deduct expenses related to using your property for business purposes.

However, many businesses choose to report on-time payments, late payments, purchases, loan terms, credit limits, balances owed, and significant events such as account closures or charge-offs.

Do not squeeze it into a space that you think is too hard to navigate comfortably but I think you have the appropriate size here. $40k also sounds very inexpensive and likely unpermitted so just be on the lookout for drive-by inspectors and make sure your contractors have proper workers comp. 

I am a very flexible time in my life so I am looking for opportunities country wide and not limiting myself have not been this motivated in a long time and I am very excited to learn all that I can to make myself into a better investor and business owner.

Example: never use S-corps for rentals.Short story: forget about business entities when you are just starting.

What advice would you have for me to get started in real estate business?

I started listening to BP podcasts while working on the project, and have since devoured material in every form as I changed from fixing up a house - to building a real estate business.

If it's just a busy 2 lane road that could have less of an impact than a 4 or 6 lane main road.