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22 November 2024 | 15 replies
Check out - https://www.ruidoso-nm.gov/short-term-rentalsThat is all the data to get started on the permit but still check if the neighborhood has an HOA and what the rules are.
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22 November 2024 | 9 replies
I haven't been expanding my business with LMHA since the end of 2016 per my posts above so I don't know exactly what changed, but I expect the outsourcing of inspections to private industry + some executive level leadership + replacement of staff with new faces excited to serve the needs of HUD/Landlords/Those In Need has resulted in an agency I will develop more business with.The HCVP will always be a double edged sword for landlords (See Section 8 Bible discussion) but for now I have discovered it is finally worth the effort to participate in the program.I specialize in Toledo's transition neighborhoods, discounted houses on the edge of nicer areas but also on the edge of trash...the Section 8 program allows me to get long-term tenants who are a good business model provided they are consistently managed and visited/inspected for additional "visitors" (relatives and random dogs/cats) and damage/housekeeping which can destroy a home if left unchecked.You need to know the rules, repair and renovate for long-term durability, prepare for inspections thoroughly and keep a team of contractors who will hold those standards...after 8 years we have been through a hundred inspections.
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20 November 2024 | 9 replies
Makes total sense to me. before this whole situation I had presented them with a written lease that clearly outlines the rules for visitors. i.e no more than 5 days in a row no more than 20 days per year...
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21 November 2024 | 6 replies
As a general rule, each entity that files a separate tax return (partnership, s-corp, c-corp, etc) will need its own QBO subscription.
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20 November 2024 | 13 replies
The rules for who may represent an LLC in a court depend on far more information than is present.
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22 November 2024 | 33 replies
What I read on the Trec rules was that as long as both party knows that it is an assignable deal (wholesale) there is not a problem.
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20 November 2024 | 6 replies
I don't think there is a hard and fast occupancy rule for VA because you get a VA allotment.
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16 November 2024 | 2 replies
I even have a friend who received an unfounded complaint from a neighbor (the neighbor was just against STRs, no events/parties that occurred), and now their property is temporarily banned/under review, regardless of them abiding by all rules.
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19 November 2024 | 12 replies
STR income isn’t considered passive if you meet material participation rules, allowing STR losses to offset W2 income.
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20 November 2024 | 2 replies
Nashville’s market is competitive, and not every deal will fit the 70% rule exactly.