I’ve been using a properly management software Hemlane for couple years with no major issues.

So, if you secure just 1 or 2 bookings under 7 days, you could potentially meet the criteria, provided you demonstrate material participation and proper active management of the property.

Because we charge by the bed, returns are significantly higher than market rental rates, even when considering our rent covers ALL housing costs ex food.With today's opioid epidemic rampaging across the US, there is a massive need for well run transitional living facilities everywhere, but it is easy for good intentions to sour when the houses are not run properly.  

Get to get in, make sure its clean, everything is in good order, change out filters and such to make sure its done properly and also make sure nothing is broken

You will have to give them proper notice AND I am unaware of any city or state that allows you to change the lock on a residential tenant.

If you move forward, make sure the LLC is properly set up and operating as a business—especially when it comes to collecting rent and paying the mortgage.Lastly, about taxes—transferring ownership won’t necessarily keep the income off your personal return if you're a single-member LLC, as it's considered a disregarded entity.

STRs have very substantial tax advantages compared to other strategies as long as proper tax planning is done.Let’s start by getting an understanding of how rental property loss recognition has evolved over time.

You just need to do the proper research and have realistic steps to reach your goals:)DM us for more advice.

If I were the wholesaler, I would make sure to do proper due-diligence and get the RPD and LBP signed alongside ask buyers to speak to an attorney and seek legal counseling if they have any questions.

Perhaps their lease term isn't up or maybe they were not given proper notice to end their tenancy.