He didn't even post it for the first 2 months insisting it needed things like deep cleaning (I'd just finished windexing every inch of the floor the previous week), that the stove didn't work (I paid $100 for the plumber to tell me his cleaner had unplugged it), and more supplies (in the end, I was charged for 3 bathmats). 

He didn't even post it for the first 2 months insisting it needed things like deep cleaning (I'd just finished windexing every inch of the floor the previous week), that the stove didn't work (I paid $100 for the plumber to tell me his cleaner had unplugged it), and more supplies (in the end, I was charged for 3 bathmats). 

David,,, IMHO  opinion buying rentals is napkin math.. its not really deep dive.use 50% of gross income for all your expenses.. 

Have multiple back up strategies if Airbnb doesn't work out / the economy takes a dive. 

You can get a deep dive on a property from here and it’s free

Just change your language in the future.out in the mid west deep south most of the bigger landlords I know out there all take NON Refundable deposits up front they never take deposits that are to be refunded.. its usually 500 to 1000 and always non refundable.. tenant knows they are not getting it back so there are no squabbles at the end of the term. 

Looking to read a couple more books about the subject before I dive in.

The best you're going to get is keeping ahead of the game financially and always vaguely feeling you need to go naked through a carwash a few dozen times to get the filth of the raw human misery you are constantly dealing with off your skin.well Jim that does describe lower end rentals for sure.. that folks have no clue.. about until they are knee deep into owning them.However on the flip side rentals that much lower returns on PAPER tend to have tenants that are much easier and respectful to deal with. 

In our conversations we hadn't dug too deep into how the ownership split would work with cash left in the deals, but we did talk about the possibility of that happening and needing to figure it out.

But it is important to establish yourself in one area before diving into others to ensure that you are as focused as possible on generating great returns on that specific strategy.