I know people that are really good at their trade (plumbing, cleaning, electrician, etc) but they don't have financial discipline, they don't know how to market, they suck at customer service, they don't use tools to their advantage, etc.Cody Sanchez (lady in the video) buys different types of businesses and makes them profitable by applying basic business disciplines.

If you rent the basement room to someone or market the house as a whole counting the basement as a bedroom and a fire breaks out and someone dies or is injured in the basement without an appropriate egress from the room you could be liable for all of that.   

This amounts to lost opportunity because if you had purchased RE, at the closing it can start producing return. 5) ADUs detract from the existing structure whether this is privacy, a garage, or just yard space. 6) this is related to number 1, but there are many more buyers looking to purchase homes for their family than there are RE investors looking to purchase small unit count properties.

This is a great place to learn and to connect with people so take advantage of all the great resources.

That's one reason I hang out on BP - most people in my life can't appreciate the level of work it took to get to this level.

Spending more than 100 hours and more than anyone else, or substantially all the time in the business.So if you own an STR and meet the test, you can set up a tax deduction machine.Some issues -- You have to count your time, and the time other people work in the biz (cleaning, maintenance, etc..)- If use the property more than 15 days or 10% of the time it becomes a residenceI suspect this is part of why the STR trend has picked up so greatly amongst professionals working in tech.

Now it used to be if you got a job with the government and could count on a fat pension then life could be good and with a few rentals excellent.

If you are able to network with someone that can give you consistent deal flow and partner with people that will provide the funding you will be in really good shape.

It’s being used by people who can’t or won’t charge at home.

The more we buy the better the discount so I am contemplating opening it up to other people as a win/win.