Residential assisted living is more like three businesses: the real estate side, the operations (care/staffing), and marketing (sourcing new residents).

I will upgrade to QBO in the future for my Businesses, due to my knowledge of it, then one day I may have more industry specific Bookkeeping Software for Real Estate but we will see.  

In this business that mindset keeps you in the game long enough to get good.Solid insight.

In addition, since this is a relationship-based business, I also recommend only lending locally to those you’ve personally met and gotten to know against homes you've physically walked through.

Not a good business model if your a real investor.

I would really be investing as an individual (eventually into a business), but open to working with a partner as well.9.

LLCs are also valuable business planning tools.

I misunderstood...So, from the other side (business side) one of the first rules of sales, "Always answer the phone because you never know who is on the other line."

My tax lady charges $250 for my business return each year.

You asked about short-term rental property demand and mid-term rental property demand in other areas besides yours and thoughts on managing these properties.First off, short-term rentals are a great property class to own, especially if you "materially participate" with 500 ours in the management of your property for the IRS to consider it an active investment and able to write down your active or W-2 income with the expenses, bonus depreciation, and cost segregating the property for additional depreciation to reduce your income taxes.There is short-term rental demand in many communities in Michigan because we have so much coastline and natural beauty as well as university, business, and hospital stay demand.