We had been flipping houses for about six months. We would tear a house apart and make it look beautiful so that we could sell it to someone else. We quickly realized that if we ever wanted our circumstances to change (if we wanted to have passive income, and to also build wealth by holding real estate long term), we needed to stop selling off all of these nice houses!

We had heard that short term rentals were extremely profitable. It was also scary because it meant we would have to buy something and then furnish it and THEN hope it would rent out! We did our research and learned as much as we could. It made sense to us. The short term rental market  continues to grow and people love to rent a whole house instead of multiple rooms in a hotel.

We found a house that needed a full gut and rehab. It was in terrible condition. Our other projects had been mostly cosmetic updates at that point. This project would include ripping all the dry wall out and starting from scratch with...