Good to have clear deadlines but overshoot them with a bit of buffer when possible!  

Hello Fellow BP Members,I am excited that I found my first property for an STR but stressing out over the lender not meeting closing deadline.

Since the Internal Revenue Service (IRS) doesn’t consider child support taxable income, I would not consider it in the rent calculation unless you have a HUD-specific home.According to hud.gov, “[rental property] owners must count alimony or child support amounts awarded by the court unless the applicant certifies that payments are not being made and that he or she has taken all reasonable legal actions to collect amounts due, including filing with the appropriate courts or agencies responsible for enforcing payment.”So, does child support count as income for renting?

If the title of your properties is vested in an LLC, and you file a BUSINESS tax return, it's important to note that positive rental income cannot be used to offset your DTI.

If you fail to meet deadlines and satisfy the violations during subsequent inspections, Section 8 may abate their rental portion.

You’d need to file the Articles of Organization with the Colorado Secretary of State (the cost is around $50), get an EIN from the IRS (which is free and can be done online), and possibly draft an operating agreement, which isn’t required in Colorado but is still a good idea.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

I would like to do the state filing myself, because its easy and cheap.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

These tools help ensure deadlines are met, budgets are controlled, and teams are coordinated.