I'll probably be here for another year or two, but I'll keep the property when I do find my next step, and aim for Mid Term rental, to get the higher income. 

Learning from others' experiences and perspectives can provide valuable insights and help you make informed decisions.Have a Plan: Define your investment goals, whether it's building passive income, achieving financial independence, or growing your wealth over time.

Let's dive into the exciting world of waterfront condo investments and explore their potential for generating lucrative vacation rental income.

These are generally 12-24 month interest only loans that borrowers will generally pay back by selling or flipping to long term financing like DSCR loans.More on DSCR loans:DSCR loans won't use your income to underwrite the loan.DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.Here's a bit more in detail about how rates are calculated for DSCR loans:1.

These are generally 12-24 month interest only loans that borrowers will generally pay back by selling or flipping to long term financing like DSCR loans.More on DSCR loans:DSCR loans won't use your income to underwrite the loan.

Its already bringing in quite a high rental income in Lincoln Park, so I dont think MTR would bring in so much more.

However, I am not finding any decent properties that generate positive cash flow.I'd love to hear from those of you who have firsthand experience investing.- What cities/areas in the US have you found to generate good cash flow?

Higher income or credit requirements?

There also is a lot more than just a promissory note and deed/mortgage to be drafted up so you might want to pick up a copy of my book Lend to Live: Earn Hassle-Free Passive Income in Real Estate with Private Money Lending available on BiggerPockets.

Can I claim bonus depreciation for the property purchased in 2023 against W2 income in 2024?