(Before we had a partner/coach with a track record, we were submitting LOIs on deals - and many times we were the highest offer and STILL not getting it because they went with an experienced operator who they knew could close it.)

So operating expenses divided by effective rent should be at least 50%.

I am a 4x house hacker/Airbnb operator and investor friendly realtor in Denver.

Thanks to BP and other platforms, you can better network and find those brokers who operate in the space or niche.

I am 30 and have a high paying job and a decent amount of savings.We're trying to draft an operating agreement together as an LLC and I am trying to make sure my bases are covered.

There's lots of demand here because there are lots of out-of-state investors who can't or simply don't want to operate an Airbnb here from California.

You also get handed-off a few times throughout the process (disposition team, operation team, inspection team, closing team).

My CPA is telling me that if I take a percentage of equity ownership, that is a taxable event and I will owe taxes on my % of the total capital raised as outlined in the operating agreement (on day 1 before we have built anything!).

But, why replace them if they are not broke or operating inefficiently? 

Living in North Myrtle Beach, I see buyers buying houses that do not make money and sellers selling houses for far less than they should.I urge you to get fully educated regarding operating expenses, operating income, net operating income, return on equity, capitalization rate, debt service, capital reserves, the difference between capital and maintenance expenses, and a host of other topics.