Our place sleeps 10 and we don't charge for up to that.

Imagine making millions of dollars throughout your career and then having to pay Uncle Sam 30-50% every year instead of compounding that cash over time.This is exactly what real estate professionals have learned to mitigate.To reduce their taxable income, they buy a building every year, do a cost seg, and use depreciation to reduce their tax liability dramatically.Their personal wealth snowball grows much larger and much faster than their W2 counterparts who give most of their money back to the government each year.Following this strategy as a real estate professional is one of the best ways to end up with a much larger net worth at the end of your career.

I bought a primary residence last October that I planned on renting out come this October (next month) and would love some advice from more experienced folks on my next steps, because I came up with a few options. 

One of the issues I have come across is the inspection cost for the building.

Unless you have an immediate need for the cash I'd wait until I could pull out the extra $40k. 

Sometimes taking a break from the corporate life and getting back into REI can wake up the soul! 

When it comes to acquiring lucrative coastal luxury vacation rentals on the Oregon Coast the most challenging components can be permitting and timing. 

My plan is to spend the next year saving up for a down payment and educating myself.My question is this (thanks for staying with me this long!)

Coming back for an encore, as I have stories, I have lots of stories - how is that the case?

Hi Katie, thanks for the reply.