Your calculation of $40,000 out of $160,000 would apply if the total investment included both the property cost and the materials/supplies, but in this case, it seems the property cost is separate.

He says he makes $8000 dollars every month- I am thinking he is including his own payroll.If he was passive, he would have to put money to keep the lights on?................

This includes electricity, water, gas, and any other necessary utilities.3.

On the other hand, some disadvantages of investing in Dayton may include economic fluctuations, potential property maintenance issues, and a competitive real estate market.

Market participants are waiting to see what inflation will portend for the month of March, including bond traders who are staying away from the 2 and 10 yr.

This could include skipping RLMO, having a balloon payment, and possibly having prepayment penalties. 

Can we redefine a "Unit" in such a way that it only includes roof and maybe exterior paint (to maintain uniformity) in the CCRs, and use this definition with the NRS 116.3113? 

Lightly sand and go right over the old finish.

For example, I have a connection in Dallas, TX who purchased multiple STRs in Miramar Beach, FL and claims to only be breaking even, which I found extremely difficult to believe because I also have a connection who owns a one bed, one bath condo in Destin, FL who made $78K in rental income, including the lodging tax and cleaning fees, and was still able to net approximately $35K in 2023.

They reflect the overall economy including how expensive it is for investors to raise money and whether they can obtain similar yield from other investments.