We were thinking the following:  1) we know these potential tenants have a paying job, 2) no commute for the tenants which would be appealing 3) most are men who are working and sending money home to their families so a dated decor is not a big deal and they just need a place to crash 4) renting these guys enables us to get income immediately vs spending money updating the property.   

Keeping the cash in my account enables me to more easily access it.2.)

People run these scams because people like yourself enable them.

It allows them to be better connected to the properties and maintain relationships that enable them to self-manage from a distance.  

Assuming you have a lot of equity, doing a cash-out refi can enable you to buy more properties, and assuming the new properties cash flow, yes, it could be beneficial.

That said, I fully recognize the value in some tech enabled services...

Maybe there were, it's not really my area.I remember one court case where symphony musicians were not allowed to deduct the cost of their performance tuxedos, under the theory that those clothes were suitable for non-business wear.

They're trying to keep youth musicians here active and engaged through this epidemic lockdown.

Partnering with a great management firm can not only enable to you invest in several different markets, but can create the opportunity to turn your passive real estate investments into a source of financial freedom.Utilize 1031 Exchanges:A 1031 exchange allows you to avoid paying capital gains taxes.

Website and contact info in my signature below- We're a tech enabled, full service, property management platform that can give you all of the benefits of owning a rental property without having to worry about the day to day logistics.