Make sure you check in to PDX rules on STR's as the city is pretty specific about them and how they operate here. 5.

This also opens up the opportunity to attract tenants with higher levels of income.Ease of ownership Finally, the fact that the property has multiple owners means that there are multiple sets of hands to take care of the day-to-day operations of managing an investment property.

This year I am hiring a full time employee to help me with day to day operations and also renovations.

I would suggest doing some effort of evolving your operations, the tenant is trying the business should to as a tenants ability to pay should be plentiful and VERY easy, not restrictive and complicated, that is if you like getting paid. 

Cap Rate Equals Net Operating Income Divided by the Property Value Net Operating Income is Gross Rents Minus Operating Expenses.

Operators?

If you want to be invited to participate with GPs in larger deals, you need to have one more useful skills to contribute to the partnership.Some skills that many operating groups need:- Ability to find deals- Underwriting, proforma analysis, rent comps, market analysis, etc- Due diligence and create accurate budgets- Asset Management- Construction Management- Investor relationsOr, if you have a high net worth, many GPs will provide equity in return for your signing on the debt.All of these things are valuable to operating groups, and if you're really good any one or more of them, you may be able to trade your skills for equity in a deal(s). 

We can get too focused on the potential cash flow without considering the consistency of collections, the wear and tear of the property, the turnover, and the headaches related to operating. 

Hi all - I'm a mobile home park owner and operator based in Denver.

Some make so much money doing what they do that handing some of it over to good operators is exactly the right thing to do.