Quote from @William Thompson: One thing I’ve noticed working with a lot of investors is this:People spend a ton of time researching markets, strategies, and financing…but almost no time building the habits that actually keep their portfolio healthy long-term.Here’s the simple truth:Your systems will make or break your growth.Not the market.Not the deal.Not even the interest rate.I’ve seen investors with average deals but great systems outperform people buying in the best markets with none.Things like:Keeping clean booksTracking expenses in real timeReviewing your numbers monthlyHaving a game plan before tax seasonThese aren’t exciting, but they’re the difference between “I think I made money” and “I know exactly what’s working.”Real estate is more forgiving than most businesses… but eventually, disorganization catches up.The investors who last are the ones who treat it like a business early — even when they only own one door.What’s one system or habit that’s helped you stay organized as your portfolio grows? 

For tax purposes, the IRS considers the average stay across the entire multifamily property, not just the short-term rental unit.

It amounts to trying to do something that is already challenging and adding additional challenges.My own view is you likely will be better served investing in the magnificent 7 or numerous other options than trying OOS residential RE investing at this time.   

Check out the map on our website where we’ve made this all easy to follow.We can also share numerous examples of properties & portfolios we’ve assisted investors with!

In Metro Detroit, if they are not paid, the city sells them to county (with penalties & interest) and county adds to tax bill.Since the water bill stays in owner name, this creates challenges:1) Billing Tenants - do NOT let water bill go to property and trust tenant to pay! 

But doing so, in this case, would effectively wipe out today’s payout and leave the calendar open with almost no notice to rebook.Any thoughts in what you will do here, do I accept or politely declined the date change and explained that the timing falls outside the flexible window to make changes per our cancellation/modification policy. seems also no middle ground (It does not allow me to surcharge a one night stay ).How do you handle same-day change requests while balancing fairness and protecting your calendar?

We usually try to screen everyone that is staying.

The more you give, the more doors open.Stay curious, stay humble, and stay consistent.

.📉 Jobless Claims Show Slower HiringBacklogged claims data finally came in: Initial Claims sat between 220K–235K the last several weeks, but Continuing Claims remained above 1.9 million for the 18th week in a row.Why this matters: When people stay unemployed longer, it’s a clear sign the labor market is cooling.

You’re definitely looking in the right direction, but there are a few tripwires to be aware of.For the STR strategy to work this year, the property has to (1) be placed in service in 2025 (furnished, available and actually listed for rent), (2) qualify as a short-term rental for tax purposes (average stay under 7 days, or under 30 with substantial services), and (3) meet one of the material participation tests (for most W-2 folks that’s usually 100+ hours and no one else, including cleaners/PM, doing more than you).