Having thick skin is essential in real estate investing.

I essentially get 60 payments on the back end of the loan for free.

Given that you have a W2, you most likely do not qualify as a real estate professional since it has to essentially be your main gig. 

So if I understand this correctly they essentially get to build a better score because they are an authorized user on your account but they never actually get to use the cars, is that correct?

However, there are some challenges to keep in mind:Regulatory Variations: Regulations can vary widely between locations and are constantly evolving.Active Management: STRs require more hands-on management for guest turnover and communication.Additional Costs: Don’t forget about expenses for furnishings, cleaning, and possibly hiring a property manager.If you’re looking for STR-friendly areas, consider these locations, as others can be too expensive to consider, such as Snowmass Village or Aspen:Breckenridge: The most visited ski resort in North America, attracting around 3 million tourists each year.Steamboat Springs: A popular year-round destination for winter sports and summer activities.Keystone: Great for those wanting a less crowded resort experience.Divide & Florissant: Charming mountain towns close to Colorado Springs.Fairplay: Just 30 minutes south of Breckenridge, with an impressive 82% Airbnb occupancy rate.Cripple Creek: A former mining town now known for casinos and outdoor activities.Park County: Very Airbnb-friendly, though regulations may change.Here are some strategies to help you succeed in the STR market:Hybrid Model: Consider using some units for STRs and others for long-term rentals to balance income.Research Local Regulations: Always check the current rules in your target areas before investing.Year-Round Appeal: Focus on locations that attract visitors in all seasons.Quality Furnishings: Invest in quality to justify higher nightly rates and attract better guests.Dynamic Pricing: Use pricing strategies to maximize revenue during peak seasons while maintaining occupancy in the off-season.Stay Flexible: Be ready to adapt your strategy as the market and regulations change.While Colorado’s STR market offers exciting opportunities, it’s essential to approach it strategically.

This journey has been a testament to the power of action and perseverance.Key Takeaways:1.Education is Essential: Invest in your knowledge and seek guidance from experienced mentors.

They encourage members to identify their Avatar – essentially pinpointing the role or opportunity that suits them best.

However, resuming renovations is essential to increasing revenue, and a capital infusion allows us to resume both interior and exterior renovations.

When you run property management numbers - they get 'ugly' real fast.Lets say you buy a long term rental and it rents for $1,200/month, and if you financed it, it costs you $900/month for a fully loaded (Principle, interest, taxes, insurance) mortgage.  

I just partnered on a owner financed property ($1,000 a month principle only for 10 years with a $60k balloon), and do flips with another partner whenever we can find the opportunity.