I feel like I am missing a puzzle piece. 

It's a bit of a puzzle based on what I've learned so far.

It got me thinking: maybe we’re solving this puzzle in the wrong places.I’m the CFO of a company that develops, builds, and manages multifamily projects, and we’ve been digging into rural markets in the southeast US—think rural Georgia, Alabama, places like that.

(Side note: the original 1099 VRBO sent me for the 2024 tax year was incorrect and missing some December bookings but they sent me an amended 1099 which is correct.)This is why it's puzzling to me that their system was calculating and remitting the taxes in 2024 correctly but in 2025 is clearly adding in the guest service fee (platform fee) as part of the total which is taxed. 

Lots of variables here that need answers to piece this puzzle together. 

It feels a little overwhelming right now, but slowly I feel like there are some workable pieces of the puzzle coming together.

Cash flow is great, but it's just one piece of the puzzle.

Finding a competent and passionate property management company is the most important piece of the puzzle since I'm doing buy-and-hold investing.Right now, I have SFR properties in: Fort Worth, TX; Beebe, AR; Alexander, AR; Jacksonville, AR; Bartlett, TN.

But, it puzzles me why an insurance agent wouldn't want to watch a short clip and learn from other agents.

@Vincent Pflieger having the capital is only one part of the puzzle.