You have done a great job eliminating debt and using cash but you always want to have some available. 

By dropping the R and simply living in and fixing up your primary residence you're adding 20-40% to your profit by eliminating tax.It's a great strategy. 

If they sign it shows all their guest names and relationship to the guest.a quick social review will show you all you need to know.a lot of people don't do a stl license agreement and people that do the things your referring to stay in places that insta book without agreements. the agreement is one more way to vet them out and upfront eliminate most issues with bad bookings  

., The deduction against W-2 income starts to fall off above $100,000 and is completely eliminated at $150,000. 

If I eliminate our personal residence, we have around $550k between 4 properties.

.- thanks - if you will be  getting a loan - all lenders  will  use the lesser of  the price you pay and the appraised  value   2)  avoid  using a  FHA loan  because the  MIP is permanent on this  type of loan and the only way to eliminate it is to  refinance the loan   3)  use a conventonal loan / you will likely need to pay mortgage  insurance  intially  likely for   1-2  yrs   4)  once you have the loan - ask the lender  for details on when and the process  so you can  request the mtg ins to be  removed 

A better approach is eliminating locations that are unlikely to provide the dependable long-term income you need to stay off the treadmill.You can eliminate unlikely locations using a set of filters.

They could also install a camera inside the apartment pointing out to the porch which would do the same thing, as someone mentioned above would you have them eliminate the camera if you spotted it one day?

Other than that, you are correct with your comments.However, it doesn't change the fact that if there is an existing loan, with an ability to foreclose, that potential foreclosure eliminates the Option. 

One of the big advantages of private equity in real estate that you don't get from a REIT is the tax reduction or elimination of taxes.