Deal was off-market, timing was perfect for us both.

Even if you aren't able to pull off a "perfect BRRRR", you may be able to get a good portion of your cash back -Seth 

In a perfect world cap rates would be the same for a property class regardless of the value-add status and value-add properties would be selling at deep discounts.

That'll be fine while everything is going perfect, but you may learn some very expensive lessons when something goes south.

With some small scale business hustles like microgreens the investment is $2,000 and you have a $1,000 a week cash flow if you can find buyers.Specific to the real estate phase of investing as @Bruce Lynn stated deals don't have to be perfect. 

That said, you have a choice to keep them on the current lease month to month or you can give them a new lease.  

No perfect way to accomplish, just need to know costs up front and what your market will yield.

A neighbor is a good choice with an added benefit – they can let you know if anything suspicious is happening around the Airbnb rental property.

I doubt that November is the high season unless there is some crazy festival that we aren't aware of. 1050 sq.ft. is a perfectly fine size for a vaca rental that is right on the beach like that.

@Dave RavThe security for a note than includes real property is the real property itself, the lien is perfected by a mortgage or deed of trust that’s filed with the county in which the property is located.