Additionally, have a clear budget, factoring in potential repair costs, and ensure you understand the rules about earnest money deposits and closing deadlines.LLC for Real Estate Investing: Forming an LLC for rental properties can offer liability protection and may provide tax advantages, though the tax benefits are non-existence for rentals.

If we sense there is a red flag, were asking them to upload additional documents like tax returns w2's etc.

Second, I'd connect with some local hosts in your area also in addition to Airdna.

Properties below this threshold present additional risks and more limited borrowing options.7.

So ultimately we decided to suck it up and not take on the additional equity, which ultimately required us to take more time on completing the needed rehab, however in hindsight it was a good decision, because even just among our own family there's been lots of dispute on what we want for the business plan and personal STR useage....

Great use of space and provides additional income to offset the monthly payment.Orlando, and many other cities, have a "missing middle" problem in regards to housing. 

Additionally, working in a small-town market taught us how to effectively price properties for faster sales without compromising profit.

@Kenzer Hodgson For your STR, an umbrella policy can provide liability coverage, but an LLC offers additional asset protection by separating your personal and business assets, which can be valuable in case of lawsuits or audits.

An example of that is tenant must pay for additional electric over flat fee / flat limit since now there is 2 occupants in the home instead of originally one.

Do you have additional capital to add?