Then like others said start to save as much as you can to build funds up in the background. 

I also had reason to believe I could hit $7500 or $8000 on this property (not 100% that I could, but a buddy was doing similar numbers in a similar property but also being less discerning with guest screening and had a longer run time to build up reviews).If my end profit was $5000+ a month, the headache seems more palatable.But, when Airbnb decided to give a no questions asked refund on $20,000 on confirmed “strict” bookings, and the str market tanked, I switched over to LTR and haven’t looked back.

Reason is its the common build in the US.

@Barb Knowles If you're just starting out, you may want to build up more cash before you start buying and holding if funds are low.

Poor Property Condition: Dilapidated buildings or signs of neglect indicate potential costly repairs and maintenance down the line.

If anything is left, start building a fund for your next investment.Many people make the mistake of paying off credit cards, student loans, or other debts and then building new debts.

If you’re not able to find a PM or cohost you could always build the team yourself while still living in the area and set up the operations to be fairly automated.

My cost basis was originally 202K for the building plus about 30K improvements.

Once you know exactly WHY you want to own real estate and the STRATEGY you will master to build your portfolio, the answer will present itself.

Building Codes and Permits: Insights on navigating local building codes and securing permits for this type of conversion would be incredibly helpful.Potential Pitfalls: Are there any common issues or unforeseen challenges I should be aware of when undertaking a project like this?