The house appraised for a little more than what I expected.

One news article that I read stated that they expect not everyone who owns a STR applied for the license and will be operating their STR illegally.

I am hoping to land my first deal in the near future and begin my journey in this venture.

I’m expecting a net proceeds of about $200k.

Consider setting clear guidelines and expectations in any lease agreements to protect your investment.

I've been here for a while reading up and am excited to make my first post.A bit about me, I am 30 currently making a great salary in a W2 contract role that I will likely remain at through this year, after which I expect to look for a more permanent role with a lower base salary, however likely similar overall once benefits are accounted for.

Let others leave their future in someone else's hands, but not you.”

Ps: I know I’ll need to work a job since I haven’t had a business for a long enough time (I apparently need two years tax return from my business), but I’m just thinking long-term based on my goals for the future. 

Just need to set expectations for what you're actually getting in return, a small condo is not going to be life changing wealth.

Of course no one goes into a deal expecting it to be bad so many investors unfortunately only calculate one side of the debt equation.