I note that you asked specifically about “cash-flows”, which has multiple components each treated differently for tax purposes.In general, you can start with NOI, next you have debt service and cap ex, which can get you to cash-flows.The interest portion of your debt service is tax deductible (possible subject to limitations) and the principal portion is not because you get basis in the asset for the loan principal, which generates a depreciation deduction.Similarly, cap ex is generally not deductible currently but the expenditure is capitalized and depreciated, similar to the initial basis in the asset.In summary, you have cash and non-cash tax items that cause your taxable income to differ from your cash-flows and taxable income * tax rate determines your tax liability.

I have much other details about this if anyone needs to see it ..... 

In particular, take a look at the item labeled "Property tax impact table for 2018, 2019, 2020."  

Also, what are your thoughts on using contractors who refuse to provide anything but a "total cost" estimate, as opposed to itemized list of job costs?

Homeaway has published their Premier Partner Checklist and it is interesting.I personally don't get much business from Airbnb but I have kept my Airbnb listing active because I pickup a few rentals per year there.It appears to me that HA/VRBO is king for true vacation rentals and least in my area.Notice item #1.

All three are explained in detail here to help investors make well-informed decisions about private real estate.Benefit #1: Private Real Estate Generates High Absolute ReturnsPrivate real estate offers investors the ability to generate high absolute returns.

These items could be mortgages covering the entire development that should have been released as to individual lots upon their sale, judgment liens, assessments for water/sewer facilities, more.

I'll register and everything when the property is "officially mine" and the other more important details are filed and put away.     

@Jason DiClemente@Christopher FinnAgree, I'm going to make him the offer (not including the items he said he purchased) if he is out before the eviction court date.

He did, and was recently bought out and I haven't asked for details but I'm under the impression his share reached into the 7 figures.They were considering purchasing a property in Austin, where I live, and I agreed to help them research it.