I've got a lead on an 18 unit motel property with manager's quarters that is coming up for sale as the owner/operator is retiring.

I did read that you might need a business license to give you the right to operate.

You should only buy the property based off of the actual gross income, not what it could be generating. 

The pro's and con's are mainly prrsonal decisions regarding how you choose to operate your business.

People like Madoff did what he did because people trusted him with their money without knowing what it was being used for, where it was going, or what they bought with it.Sometimes I worry about some of these turnkey operations. 

With this exchange I'm looking to generate passive cash flow so I can pivot into real estate full time.

It would generate about $800 to $900 rent easy.

@Matthew RodriguezDon't forget, if you work assignments, all assignment fees MUST go through your broker or YOU would be operating illegally.

The downside is the pumps require power so unless you have a generator they won't work during s power outage.

Been reading a lot and it does seem like the numbers regarding cash flow for a single family home on Maui (right now) wouldn’t work too well.I understand and accept that passive income is for the people who’ve built a massive net and are at the top (but even then I think they have to work and make sure their system stays functioning)I really want to learn more about owning/operating vacation rentals, specifically in HI if possible and specifically the tax part of it (now with the shift of the 2018 tax laws).I’m going to dive through the forums and try find more books on the topic.