It has definitely created a complex tax scenario as we have to deal with depreciation recapture, an installment sale, interest earnings, capital gains, etc...

I left a 25+ year career in IT to get into real estate, and while I'm doing ok (on track to close about 1.5 mil in sales volume my first year) it didn't take long to realize that just being an agent can quickly become a grind and feel just like a job. 

As you said, prices have indeed skyrocketed which has been a blessing for the equity us owners now hold, but why lock up so much of your investment dollars if you could be earning better in a different genre of REI?

@Thomas FryerA multifamily investment property would be a good way to earn additional rental income compared to a single family.

When you're getting started it's the people you choose to surround yourself with that can make or break you at the early stages of your career (or career rebrand as in your case).Good luck!

The downstairs of the house could be one unit probably earning $850 per month and the upstairs could be a separate unit (it has a separate kitchen, bath, 1 bath and living) for $550 per month.

The plot is around 26000 sf, beachfront, great tourist locationThe build quality is high, and it survived the tsunami of 2004 intactThe place is fully staffed with a manager who's been there for 19 years, with no intention of leavingThe place is one of the few in the area that holds groups (the whole complex is rented out to groups of 12-23)It is currently earning 100k eur per annum with only 50% occupancy (the owner is older and does minimum to market - old website, airbnb, booking.com, homeaway, tripadvisor)The average occupancy of the area is 74% so there is a lot of room for revenue growthThe rates haven't been raised for 3 years and it is due for a 5% rental increaseThe reviews are stellar on all sites, with many repeat clientsThe venue is ideal for weddings, reunions, parties, bdays, etc, and the staff handle everything, including an on site chefWhen you stay there it's like having your own resort on the beach to yourselfOwner will act as consultant for up to 1 year for freeSo, he wants to sell to my husband and I, as his manager and he really like us and know we would keep the staff and concept the same.

Many of those have Minimium Earned premiums and some can be fully earned.

Seeing as I would be living 3 hours away this would require a property manager of sorts which would take away from the profits and ability to self manage and tap into the full earning potential of a STR in the area. 

If you’re thinking about this like stock valuation, think of it as a P/E (price to earnings) calc In other words, if a company earns $5.00 per share AND the PE ratio is 15x’s current earnings the price per share would be $75.00.