Any "extra" at the end of the month went towards paying off my credit card (stopped using my cc a couple months ago to keep it from getting any higher), so my checking account pretty much stayed roughly around the same amount for years now (a laughable amount under 10K).

But you'd better have a killer good deal to cover all the extra costs.

No different than an office visit you pay for at a doctors office, our expertise and education in the trades is a value to most sensible investors.If basic principles are applied during pre-construction, 9 times out of 10 everyone will walk away feeling good and most importantly with profits earned.

My goal is to earn at least $12,000 per month passive net income within 3 years and hope to find many people with the similar goals.

So, 3 bookings a month would be an extra $450 to $510 in your expense lineMy advice would be to get actual numbers for whatever property you are looking at and then run the numbers again.

Keep an extra box of tiles in case one cracks or is chipped.

Thanks for putting extra eyes on this!

Earnings next year will 250, then 330K.About 100,000 of my debt is 5-6.8%, the other 200,000 is 2.8%-3.8%.We are moving back to the NYC area and were wondering if we should sell our current Manhattan apartment (we won't be living in Manhattan) and use that money to pay off my higher interest loans and credit card debt and put a down payment on a house versus hold onto the apartment and continue to sublet (rent) it out in the hopes that someday we can sell it for a lot of money or keep it in the family.

(hint, it's all about future values, both rent wise and appreciation wise.)That's why the market is so competitive in LA for 2-4's...The future value of a property or rent will not rescue you from a foreclosure if the present rental income is insufficient to cover the present mortgage and expenses and you do not have sufficient extra funds to cater to the deficiency. 

Makes me feel I earned my money.