Here are the numbers:IncomeTotalPartner ContributionsManaging Partners Debt$0.00Partners Deposits$987,459.99Total Contributions$987,459.99Operating IncomeAirbnb Income$50,186.50Square Income (Vehicles or add-ons)$6,741.04Total Operating Income$56,927.54Total Income$1,044,387.53ExpensesPurchase of propertyCost of House-680,000.00Closing Costs-$26,744.44Total Cost of Purchase-706,744.44Set Up ExpensesHouse Improvements & Care taker home addition-116017.03Adding Tiny House-52130.83Furnishings-68403.65Vehicles-43150Set Up Costs and Advertising-2339.53Total Cost of Set Up-282,041.04Operating expensesCare Takers-14535.9Additional Cleaners-1505Cleaning Supplies-2670House Supplies-1340Landscaping-4230.66Utilities (Power & Water)-8204Internet-315Pest control/fumigacion -120Pool cleaning/maintenance-2220Vehicle Gas-552.3Vehicle Maintenance and Repairs-6625.01Welcome Food for Guests-115Property Repairs-4999.64Bank Fees-1208.06Accounting Fees-1085Insurance-955.74Other Expenses-1071.2Total Operating Costs -$51,752.51Total Expenses-$1,040,537.99Net Income$3,849.54Net Operating Income$5,175.03Now 5k for an investment of 970k is not a good investment.  

Columbus has some solid fundamentals like job growth, population growth, and entry prices that still make sense compared to rents.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

You could easily be $100k in for water/gas/power/sewer if you’re talking 4+ lots. 

Cost of Borrowing: Compare the interest rates and fees associated with a HELOC or cash-out refinance to the hard money loans you’ve been using.

I have one I have drafted up but would love to compare against others.What are some items you always included in your MTR rental agreements?

I'm sure most of us don't say our rentals come with a furnace and hot water tank, but they do and they are not to be removed.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Having that been said, the barriers to entry are very low, which makes it one of the easiest countries for anyone to start doing Airbnb, when compared with other countries.

I underestimated utilities in my early years, so I ensure those are properly captured (electricity, gas, water and trash).