The end goal is to have a piece of land with multiple houses: one for my growing family but also a home for my mother in law.My mother in law has agreed to foot the money on a new property/land up front and when ready we can buy land from her to build/develop etc. 

Eventually you'll start developing relationships with people in the market that will bring you off market deals, but they have to believe that you can close the deal.

Airbnb also said not even 10% of hosts make more than 100k as revenue.

Because it's my money, I care more (I get 92% of the revenue, PM only 8%, and PM team member near 0%), I only had my units to manage (PM team member has other owners and units), and, with humility, I am smarter and harder working than the team members assigned to my portfolio (3rd party PM has to hire at a level that makes the business model financially work for them). 

Lenders get paid at closing.Consider developing a better process to find and vet your lenders, Torianne.

This is a long term development opportunity.

In the future, we aim to get into fixer-uppers, development, etc., but for now, we like to only consider semi-stabilized (with minimal deferred maintenance) or fully stabilized, cash-flowing properties. 

Now I own a thriving property management business, run a real estate team helping other investors learn how to grow and scale their portfolios, I have my own modest investment portfolio and have two development projects going at the moment.

For example, one exemption is tied to your total revenue which is $5M in gross sales or receipts in a calendar year. 

You have relationship infrastructure and knowledge that took a very long time to develop.