This frees up your money to rinse and repeat at a much faster rate. Not only can you make some side hustle income from vacation rentals, but you could potentially make a significant amount of money and build up a substantial passive income stream if you’re in a highly-trafficked tourist locale. Unless you’re a seasoned investor, jumping in without an inspection and complete review could be risky. In certain situations, you don’t have to pay taxes on your gains from investment properties. Success Story. Karen Briscoe , a McLean, Virginia, agent, closed her first deal just one month after she began her real estate career 15 years ago. When you invest in your surroundings, you invest in yourself!