How Chad Makes $90K/Year with One Airbnb Property in North Florida (2026 Case Study)
Preston Seo
Chad earns approximately $90,000 per year in gross revenue from a single short-term rental property in North Florida. After 16 years at the same job and experience with long-term rentals, he discovered that short-term rentals could be far more lucrative. Within his first year operating Camp Manatee, Chad exceeded his initial projection of $65,000 by nearly $25,000, while generating around $2,500 in monthly cash flow.
This case study breaks down exactly how Chad built this short-term rental business, including his decision to purchase rather than arbitrage, the importance of finding the right realtor, and his strategies for dominating a less competitive market near Florida's natural springs.
In this article:
Quick Results: Chad's Short-Term Rental Numbers
| Metric | Value | Context |
|---|---|---|
| Annual Gross Revenue | ~$90,000 | First year of operation |
| Monthly Cash Flow | $2,500 | Average after all expenses |
| Properties | 1 | Camp Manatee, North Florida |
| Original Projection | $65,000 | Exceeded by ~$25,000 |
| Property Size | 3+ acres | Adjacent to 25 undevelopable acres |
| Down Payment | 25% | From primary residence equity |
| Time in Business | 1 year | Purchased October 25, 2023 |
| Personal Visits | 4 trips | Family vacations while generating income |
Chad's Background: From Long-Term Rentals to STR Success
You don't need to quit your day job to build a successful short-term rental business. Chad has worked at the same company for 16 years while his wife works as a full-time teacher. Together they're raising two kids and now two dogs. His story proves that regular people with regular jobs can achieve extraordinary results with real estate investing.
The COVID Catalyst
Like many people, Chad found himself doing deep introspection during the pandemic. Stuck at home with time to think, he started asking himself fundamental questions about life, legacy, and what he wanted to leave for his kids.
The questions kept coming: Am I doing what I really want to do? Is this what I want to do for the rest of my life? How can I bring in more income? The answers led him to explore real estate investing more seriously, eventually discovering Legacy Investing Show content that would change his trajectory.
"I started thinking about legacy and what am I going to leave for my kids. Is this really what I want to do for the rest of my life? I want to make more money obviously, and that's when I started kind of looking at where else I could bring some more income in."
Entrepreneurial Roots
Chad has always had an entrepreneurial spirit. As a kid, he ran a window washing business. He's had an instinct for finding good properties and seeing value that others might overlook. This combination of entrepreneurial drive and property intuition made real estate a natural fit.
Before Camp Manatee, Chad owned a waterfront condo that he purchased shortly after graduating from school. He lived there for a few years, then converted it to a long-term rental when he met his wife and needed more space. That condo became his first investment property and a stepping stone to bigger opportunities.
Why Short-Term Over Long-Term Rentals
Chad eventually sold the condo and discovered why short-term rentals are often superior to long-term rentals. The experience taught him several important lessons that shaped his current strategy:
Control Issues: In a condo, you don't have control. There's an HOA, shared walls, a shared roof, and things other people do that directly impact you. Chad learned he prefers properties where he controls the entire asset.
Wear and Tear: Long-term tenants living in a property every day cause significant wear and tear. They make modifications, things break, and you need to renovate frequently. With short-term rentals, cleaners come multiple times a month, keeping the property in better condition longer.
Revenue Difference: The revenue from short-term rentals is dramatically higher than long-term rentals for comparable properties. Chad realized he could make significantly more money with the short-term model.
"The revenue that you get from an Airbnb is so much more significant and you're getting somebody in there to clean that property multiple times a month. So the property is lasting longer and you don't have to renovate it as much."
The Journey: From Decision to $90K Property
The Decision to Buy vs. Arbitrage
Unlike many beginners who start with rental arbitrage, Chad went directly into purchasing. While he acknowledges that arbitrage is a great way to "dip your toe in the pool" with less risk and capital, his circumstances led him to buying.
Chad took equity out of his primary residence to fund the purchase. He put 25% down, which he acknowledges is a lot of money but provided important protection: if the investment fell apart in a couple of years, he could sell with significant equity and walk away ahead.
His long-term plan is to use the same strategy that arbitrage investors use, just on a different scale. Once he has enough equity in Camp Manatee and mortgage rates improve, he plans to take money out and roll it into a new property. Rinse and repeat.
"The arbitrage method is beautiful for people that are looking to dip their toe in the pool, so to speak. You know, to look to get to taste it, to see it. And it's a very less risky method obviously when you're not putting out $150,000 down payment."
The Golf Cart Mindset
Chad shares a powerful mindset story about a golf cart. He always wanted one but kept telling himself he couldn't afford it, coming up with excuse after excuse about why he couldn't do it. Eventually, he just did it. He bought the golf cart, discovered he could pay for it along with everything else he was worried about, and now it sits in his garage as daily inspiration.
Every time Chad goes to work and sees that golf cart, he's reminded that the excuses he made were just that - excuses. People need to visualize where they want to be and stop making excuses.
"What's the worst that could happen? You lose some money. Obviously, you don't want to take risks that are going to bankrupt you. You got to make conservative changes and things that are not going to destroy your lifestyle."
Finding Camp Manatee
Chad and his family visited the North Florida area a couple of years before purchasing and fell in love with it. The property hunting process revealed just how crucial having the right realtor is.
Camp Manatee was actually on the market for only hours before receiving a full-price offer from another buyer. That sale fell through, and this is where the realtor relationship became invaluable. Chad's realtor knew the listing agent and reached out immediately when the deal collapsed. Without that relationship between the two realtors, Chad would never have gotten the property.
The realtor also connected Chad with local resources essential for out-of-market investing: a cleaner and a handyman. When you don't live where your property is, your realtor becomes the lynchpin of your entire operation.
Market Selection: Why North Florida Natural Springs
North Florida near the natural springs is ideal for short-term rentals because it offers multiple demand drivers that most people overlook. Chad chose this market strategically, recognizing that less competitive markets can deliver exceptional returns.
Multiple Demand Drivers
Chad's property benefits from several converging demand sources:
University Proximity: The University of Florida (Gainesville) is within 40 minutes, bringing football weekends, graduation ceremonies, parents' weekends, and steady academic year demand.
Natural Springs Tourism: Florida's natural springs are crystal blue and stay 72 degrees year-round. Believe it or not, after beaches and Disney World, the springs are the third most popular attraction that brings people to Florida. Chad's property is within 5-15 minutes of multiple springs.
River Access: Camp Manatee sits directly on a river, providing water activities and scenic views that guests can't get at typical vacation rentals.
Wildlife and Nature: The property is 3+ acres, adjacent to another 25 acres that will never be developed. Across the river is a 6,000-acre preserve. Guests see deer, turkey, wild boar, and experience a completely different Florida than the beaches and theme parks.
Florida Local Vacation Patterns: Here's an insider insight - Floridians typically don't go to the Keys or the beaches when everyone else does. They escape to North Florida, Georgia, or North Carolina while tourists flock to the typical destinations. Chad's property captures this local vacation market.
"Other than beaches and Disney World, they're the third most attraction that people come to Florida for. I've got the university within 40 minutes. I've got these springs within 5 to 10, 15 minutes. I'm on a river. The property is 3 plus acres."
The Realtor Advantage
Chad emphasizes that especially when buying out of market, the realtor is your most important relationship. A good realtor provides:
Market Knowledge: They know what sells and what will add value
Inside Access: Relationships with other agents can get you properties before they hit the market (or when deals fall through)
Local Connections: Cleaners, handymen, maintenance contacts you'd otherwise struggle to find
Property Eye: Ability to spot value and potential that you might miss remotely
Not all realtors are created equal. Chad stresses doing research upfront because finding a good realtor pays dividends throughout your investing journey.
Strategies That Crushed a Less Competitive Market
The difference between struggling and thriving in short-term rentals often comes down to strategy. Chad's approach focuses on maximizing the unique benefits of property ownership while building toward a larger portfolio.
Strategy 1: The Four-Quadrant Investment Approach
What it is: Chad structures his investment around the four benefits of real estate ownership, viewing each property as a vehicle that pays him in multiple ways simultaneously.
Why it works: Chad references a visualization exercise where you draw a box split into four quadrants. Each quadrant represents a different way real estate builds wealth:
Quadrant 1 - Appreciation: Properties appreciate on average 6% per year nationally, and even higher in markets like South Florida. This builds wealth automatically over time without any additional work.
Quadrant 2 - Principal Paydown: Guests pay down your mortgage with every booking. Over time, you own more and more of the property while someone else pays for it.
Quadrant 3 - Tax Savings: There's a whole host of things you can do with your company and property to offset taxes. For a W2 earner like Chad, this is especially valuable. He also notes that Airbnb hosts aren't tax evaders - they create local jobs for cleaners, management companies, and service providers while guests support local businesses.
Quadrant 4 - Cash Flow: The monthly profit after all expenses. Chad averages $2,500/month that he can use for anything he wants - or reinvest into improvements and future properties.
"There's no other investment that you can make that can get you all of this return. There's really not. And it's tangible. It's something you can use. It's something that you can pass on."
Strategy 2: Location Stacking for Multiple Demographics
What it is: Selecting properties that serve multiple guest types through strategic location rather than trying to appeal to everyone with generic amenities.
Why it works: Camp Manatee's location serves distinct guest segments:
Nature seekers: Springs, wildlife, river access, vast acreage
University visitors: Parents, alumni, football fans
Florida locals: People escaping crowded coastal areas
Families: Safe, spacious, outdoor-focused experience
Each segment books during different periods, creating more consistent demand year-round rather than depending on a single type of guest.
Chad's Results with This Strategy:
Exceeded revenue projections by $25,000 in year one
Consistent bookings across different seasons
Appeal to local market (Floridians) plus tourists
Less competition than beach or Disney-adjacent properties
Strategy 3: Continuous Property Investment
What it is: Rather than maximizing short-term cash extraction, Chad continuously invests back into his property to improve the guest experience and support premium pricing.
Why it works: The $2,500/month cash flow Chad reports is after putting significant money back into the property for upgrades and improvements. This might seem like it reduces income, but it actually builds long-term value in multiple ways:
Better reviews leading to better search placement
Ability to command premium nightly rates
Increased property value for appreciation
Reduced maintenance issues from proactive improvements
Competitive differentiation in the market
Financial Results: The Numbers Behind $90K/Year
Chad generates approximately $90,000 in gross revenue from a single property in his first year. Here's the complete financial breakdown of his short-term rental business.
Before vs. After Short-Term Rentals
| Metric | Before (Long-Term Rental) | After (Camp Manatee) |
|---|---|---|
| Property Type | Waterfront condo | 3+ acre riverfront home |
| Control Level | Limited (HOA, shared walls) | Complete ownership control |
| Revenue Potential | Fixed monthly rent | $90,000/year gross |
| Property Condition | Constant wear from daily use | Regular cleaning maintains condition |
| Personal Use | None (tenant occupied) | 4 family trips per year |
| Stress Level | Tenant issues, HOA conflicts | Manageable (addicting once bookings flow) |
Complete Financial Breakdown
| Category | Amount | Notes |
|---|---|---|
| Gross Annual Revenue | ~$90,000 | Exceeded $65K projection |
| Monthly Gross Average | ~$7,500 | Varies by season |
| Monthly Cash Flow | $2,500 | After all expenses + reinvestment |
| Annual Cash Flow | ~$30,000 | Plus tax benefits and equity building |
| Down Payment | 25% | From primary residence equity |
Note: Chad mentions he's putting a good amount back into the property for upgrades and improvements. The $2,500 monthly cash flow figure accounts for this reinvestment strategy.
Key Milestones Achieved
Exceeded Revenue Projections: Beat initial $65K estimate by nearly $25,000 in year one
Built Local Team: Established relationships with cleaner and handyman through realtor
Created Family Vacation Asset: 4 family trips while generating income
Maintained Day Job Security: 16-year career continues alongside rental business
Improved Risk Taking at Work: Backup income enables more confident career moves
Established Reinvestment Pipeline: Continuous property improvements underway
Transitioning from Property Management: Moving toward more hands-on control
Lessons Learned: What Chad Wishes He Knew Earlier
These five lessons took Chad from aspiring investor to $90,000 in annual revenue. Each one came from real experience and could save you months of trial and error.
"It is a journey. It's not a destination because every day is different."
Lesson 1: Stop Making Excuses and Just Do It
The Mistake: Waiting for perfect conditions, more knowledge, or more money before taking action.
What Chad Learned: Chad kept telling himself he couldn't afford a golf cart. He had excuse after excuse. Then he bought it and realized he could afford it all along. The excuses were just fear in disguise.
The same applies to real estate investing. People wait for the perfect property, the perfect market conditions, or the perfect amount of savings. Meanwhile, others are building wealth and gaining experience.
Why This Matters: Every day you wait is a day of potential appreciation, principal paydown, tax benefits, and cash flow you're missing. Conservative action beats endless analysis.
"What's the worst that could happen? You know, you lose some money. Obviously, you don't want to take risks that are going to bankrupt you, right? You got to make conservative changes and things that are not going to destroy your lifestyle."
Lesson 2: The Realtor Is Your Lynchpin
The Mistake: Working with any available realtor instead of finding one who understands short-term rental investing.
What Chad Learned: His realtor's relationship with the listing agent is the only reason he got Camp Manatee. The property was only on the market for hours before the first buyer made a full-price offer. When that deal fell through, Chad's realtor heard about it immediately through professional connections.
Beyond finding the property, the realtor connected Chad with cleaners, handymen, and local resources essential for managing a property remotely. Without these connections, out-of-market investing becomes exponentially harder.
Why This Matters: Especially when buying out of market, you need someone local who knows the market, has connections, and can move quickly when opportunities arise.
"The realtor is such a huge part of the equation. When you're looking at markets, if you link up with the right realtor, obviously, they know the market. They know what's going to sell. They know what's going to be adding value."
Lesson 3: Invest in Yourself First
The Mistake: Trying to figure everything out alone instead of learning from those who've already succeeded.
What Chad Learned: Before purchasing Camp Manatee, Chad invested in education. He took courses, learned from Preston's content and others, and put money into his own development. This wasn't an expense - it was an investment that accelerated his success.
The knowledge he gained helped him avoid costly mistakes, recognize opportunities others might miss, and move confidently when Camp Manatee became available.
Why This Matters: One good decision based on proper education can save or earn more than the cost of any course. Ignorance is the most expensive option.
"Invest in yourself, learn, you know, make sure you do the homework and take the jump, you know, take the leap, you know, because you'll be surprised. You'll be surprised of what you can do."
Lesson 4: Get Hands-On Before Going Hands-Off
The Mistake: Immediately handing everything to a property management company without understanding the business yourself.
What Chad Learned: Chad initially used a property management company to get Camp Manatee on the market quickly and start generating cash flow. This made sense at the time - he needed to validate the investment was working.
However, he's now transitioning away from the management company to become more hands-on. Why? Because management companies take a significant chunk of income, and Chad realized he needed to learn all the moving parts himself before he could effectively systematize and scale.
Why This Matters: You can't optimize what you don't understand. Learning the business yourself enables better decisions, cost savings, and eventually more effective delegation.
"The property managers, there are some good ones out there, but they do take a significant chunk of your income. Hire your virtual assistants, train them, and you can literally do the same thing if not better than what the property management companies can do at a fraction of the cost."
Lesson 5: This Business Changes Your Whole Mindset
The Mistake: Viewing short-term rentals as just another income stream instead of recognizing their broader life impact.
What Chad Learned: Having the Airbnb income fundamentally changed how Chad approaches his day job. He's no longer going to work terrified of losing his position. Instead, he takes more chances, more risks, and does things more aligned with his values because he knows he has backup income if things don't work out.
This isn't just financial freedom - it's psychological freedom. The stress of depending entirely on one income source disappears when you have multiple revenue streams.
Why This Matters: Real estate investing isn't just about money. It's about creating options, reducing dependency, and living with less fear.
"Now I'm not like going there thinking, oh my god, what if I lose this job? So I'm taking more chances. I'm taking more risk. I'm doing things more in line with what I wouldn't do in the past because I just feel like I have this other opportunity if things don't work out there. It's truly life-changing."
Tools and Team: Building the Support System
Chad manages Camp Manatee with a lean but essential team. Here's how he structures his support system for a single-property operation.
Essential Team Members
| Role | How Found | Why Essential |
|---|---|---|
| Realtor | Research + relationship building | Found property, connected to all other team members |
| Cleaner | Realtor referral | Critical for guest experience and property maintenance |
| Handyman | Realtor referral | Local presence for repairs and maintenance |
| Property Management (initial) | Market research | Quick launch, learning the business |
Current Transition Strategy
Chad is moving from property management toward self-management with virtual assistants. His reasoning:
Management companies take a significant percentage of revenue
He needs to understand all moving parts before scaling
VAs can handle the same tasks at a fraction of the cost
Direct control enables faster response and better guest experience
Preston's recommended approach: "Hire your virtual assistants, train them, and you can literally do the same thing if not better than what the property management companies can do at a fraction of the cost."
What Chad Would Do Differently
Initially, Chad prioritized getting the property on the market and generating cash flow quickly. This made sense for validation. Now that he knows the property performs, he's stepping back to really learn the nuts and bolts before optimizing and scaling.
The lesson: It's okay to start with management help, but plan to take more control as you learn the business.
Chad's Advice for Aspiring STR Investors
"Invest in yourself, learn, make sure you do the homework and take the jump. You'll be surprised. You'll be surprised of what you can do. You'll be surprised what you can accomplish. You just got to do it sometimes."
If Chad were starting over today, here's exactly what he would do:
For Complete Beginners
Start with Education: Chad invested in courses and learning before making his purchase. This wasn't an expense - it was insurance against expensive mistakes. Find credible educators who have actually done what they're teaching.
Accept That It's Scary: Chad admits purchasing was scary. He took equity from his primary residence to fund it. But he managed risk by putting 25% down, knowing he could sell with equity if things went wrong. Fear is normal - manage it with conservative decision-making rather than paralysis.
Don't Wait for Perfect: The best time to buy real estate was 10 years ago. The second best time is today. Waiting for perfect conditions means never starting. Start conservative, learn, and adjust.
Consider Your Path: Arbitrage offers lower risk and capital requirements - great for testing the waters. Purchasing offers all four wealth-building quadrants but requires more capital. Choose based on your situation, not someone else's advice.
Building a Long-Term Vision
Chad's plan extends far beyond one property:
Maximize First: Get Camp Manatee fully optimized before adding complexity. Learn the systems, improve the property, build the processes.
Then Expand: Look at other markets - Chad is considering North Carolina, Georgia, and even the West Coast. He wants properties in places he'd enjoy visiting with his family.
Build a Portfolio: Target 5-10 properties that his family can visit, use, and enjoy while having guests pay the bills.
Create Legacy: These assets will be in his family forever. His kids will learn how to run a business - cash flow, real estate transactions, marketing, social media. It's a tremendous education opportunity.
Plan for Retirement: Once Chad leaves his day job, he'll have properties generating passive income. No dependency on stock market performance or fear of job loss.
"It's really a tremendous way for kids to learn, your family to learn, and ultimately take on the business, and those assets will be in your family forever."
Watch Chad's Full Interview
Video highlights:
0:00 - Chad's background and family life
4:30 - The COVID introspection that sparked his journey
8:15 - Why real estate beats every other investment (the 4 quadrants)
12:00 - The decision to buy vs. arbitrage
15:30 - Finding Camp Manatee through realtor relationships
18:45 - Market selection: Why North Florida springs
21:00 - Chad's advice for beginners
Frequently Asked Questions
How much money can you really make with one Airbnb property?
Chad generates approximately $90,000 in gross revenue per year from Camp Manatee, with around $2,500 per month in cash flow after all expenses. He exceeded his initial projection of $65,000 by nearly $25,000 in his first year of operation.
Results depend heavily on property selection, market, and execution. Chad's property benefits from multiple demand drivers (university, natural springs, river access) and continuous reinvestment in improvements.
Is buying an Airbnb property better than rental arbitrage?
Both strategies have advantages. Chad chose to buy because he wanted all four benefits of real estate ownership: appreciation, principal paydown, tax savings, and cash flow. He put 25% down as protection, knowing he could sell with equity if things didn't work out.
Arbitrage requires less capital upfront and offers faster entry into the market. It's what Chad calls a great way to "dip your toe in the pool." However, arbitrage doesn't build equity or provide all the tax benefits of ownership.
The right choice depends on your capital, risk tolerance, and long-term goals.
What's the biggest risk with buying short-term rental property?
Chad addresses risk management directly in his approach:
Capital Risk: He put 25% down specifically so he could sell with significant equity if things went wrong
Market Risk: He chose a market with multiple demand drivers rather than depending on one source
Operational Risk: He used a property management company initially to validate the investment worked
Knowledge Risk: He invested in education before purchasing to avoid expensive mistakes
The key is taking calculated risks that won't destroy your lifestyle, not avoiding all risk.
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About Legacy Investing Show
Legacy Investing Show is Preston Seo's comprehensive short-term rental training program. Since founding, the program has:
Trained 2,000+ students across the United States
Generated $10M+ in cumulative student revenue
Built an active community of real estate investors
Produced numerous students earning $10K+/month
Preston Seo created Legacy Investing Show to teach the exact systems that scaled his business, providing the mentorship, scripts, and community that accelerate success.
Learn more about the program | Watch free training
This case study is based on Chad's video interview conducted in October 2024. All statistics and quotes are directly from Chad's experience. Individual results vary based on market, effort, and capital invested.
Last updated: February 28, 2026
Preston Seo
Real estate investor and financial educator helping people build generational wealth through smart investing strategies.
Frequently Asked Questions
Chad generates approximately $90,000 in gross revenue per year from a single property in North Florida, with around $2,500 per month in cash flow after all expenses. His property exceeded initial expectations of $65,000 annual revenue by nearly $25,000.
Both strategies have advantages. Chad chose to buy because he wanted all four benefits of real estate: appreciation, principal paydown, tax savings, and cash flow. He put 25% down for protection, knowing he could sell with equity if things didn't work out. Arbitrage requires less capital upfront but doesn't build equity.
Chad chose North Florida near natural springs because it offers multiple demand drivers: proximity to the University of Florida (40 minutes), natural springs that stay 72 degrees year-round (the third most popular attraction in Florida after beaches and Disney), and abundant wildlife on 3+ acres adjacent to a 6,000-acre preserve.
According to Chad, the realtor is "the lynchpin" for out-of-market investing. His realtor not only found the property (alerting him when a previous sale fell through) but also connected him with cleaners, handymen, and other essential local contacts. The relationship between realtors helped Chad secure a property that was only on the market for hours.
Chad emphasizes the "four quadrants" of real estate investing: 1) Appreciation - properties average 6% per year (higher in South Florida), 2) Principal paydown - tenants/guests pay down your mortgage, 3) Tax savings - business deductions help offset W2 income taxes, 4) Cash flow - monthly profit after all expenses. No other investment provides all four benefits simultaneously.
Chad is honest that there is stress, especially early on when you don't know if bookings will come. However, he describes it as "addicting" once bookings start flowing - comparing the notification rush to social media likes. The stress becomes manageable as you learn the business and build systems.
Chad sold his condo for several reasons: lack of control (HOA, shared walls, shared roof), excessive wear and tear from daily tenant use requiring frequent renovations, and lower revenue compared to short-term rentals. He used the equity to fund his current short-term rental investment.
Yes. Chad has worked at the same job for 16 years while building his short-term rental business. His wife is a full-time teacher. He notes that having the rental income has actually made him better at his day job because he takes more chances and risks, knowing he has backup income if things don't work out.
Chad put 25% down on his property. While this requires more capital upfront, his reasoning was risk management: if the investment doesn't work out after a couple years, he can sell with significant equity and walk away ahead. Everyone's risk tolerance is different, but a larger down payment provides a safety cushion.
Chad initially used a management company to get the property on the market quickly and start generating cash flow. However, he's now transitioning away from his management company to become more hands-on, learn all the moving parts, and reduce the significant chunk of income management fees take. He recommends hiring virtual assistants and training them as a more cost-effective alternative.