There are plenty of tips and tricks out there but in the end for STR's it all comes down to creating a valuable experience for your guests....all success flows directly from that but you can certainly increase your bottom line by optimizing processes and reducing costs when possible.  

It is important to show the mathematics behind being an owner financier that could be more successful and how they can benefit by spreading out their income over the length of the loan. 

2) If I allow the friend to stay (conditional upon successful background check), could this affect the occupancy permit?

You can also soak up as much information from them as possible and see what the successful ones do and what the unsuccessful ones do. 

That's better.As you know, Jim, Bigger Pockets is the ultimate game changer when it comes to successful real estate investing.

The more offers you send out, the more interested sellers will contact you, and the more deals you will close.This one method I discovered has generated me success over and over again.Happy to help further. 

Good afternoon BP community,I’ve been on BP for a while and love reading your stories, both successful and non-successful.

The road map for real estate investing success can be found at Bigger Pockets. 

I have mostly noticed successful investor buys 1 rental for every 4/5 flips. 

Bigger Pockets is your golden ticket to great success.