You'll also want to ensure you have a good property manager to look after the upkeep of the property if you are not there to notice anything deteriorating or which may need attention.Creating an LLC in California could cost you a minimum tax of $800 every year.

I'd recommend looking into the cost of a dialer system, ISA, and CRM (if needed).

@Gabriella NataldieWith $10k in savings and $8k in hospital bills I would not be buying a multifamily propertyA roof, hvac system or major repair would wipe out that $10k.Closing costs alone on the property would be more than $10k.While it’s awesome to be ambitious, I recommend focusing on saving $ and building up enough capital so you can comfortably afford to buy a property

I wanted a 30 year that will cost 0.50% more but lenders all pushing me to 10 year and stating rates will come down and will refi. 

The cost of the mini split is going to come out of your rental profit, so will any repairs that are needed over the years.

Finally, most people I've met in the country (and elsewhere) who love to stay in short-term rentals and dislike all-inclusive generally dislike Punta Cana.Of course, it's another story if you buy (partly) for lifestyle purposes, as you might just be happy enjoying your property and covering your costs.

All-in costs, including design, survey, permitting, construction loan interest, land, construction will be $360,000.

Most very talented CPAs can/will advise you on tax strategy for a fraction of the cost.. 

The renovations are cosmetic and are estimated to cost about 8k. 7.375% is a much higher interest rate than the other 4 properties I have, which are all between 3.25 - 4.25%, but I know that's just the situation with interest rates right now, and it may not get better any time soon. 

Read below for notes from the conference and look for notes next week specific to BFR.NOTES- Home buying is currently double the cost of renting in most markets.