Hi Lina, It’s exciting to hear that you’re looking to invest in a mid-term rental (MTR), and I’d love to help you navigate the financing side of things.Understanding loan options, down payment requirements, interest rates, and how lenders view MTR properties is crucial to setting yourself up for success.

It is more complex and has added requirements such as a formal set of books just like a corporation. 

I'm more willing to move off  "LLC B" property because of the work required to keep this going. 

I'm interested in learning more about owner financed deals, utilizing HELOC's, and the ongoing demands and requirements of being a good landlord/property owner. 

For 2024, the annual gift tax exclusion is $18,000 per recipient (rising to $19,000 in 2025), and amounts above this require filing a gift tax return (Form 709).

With inquiries, you're only required to respond to them with a message.

2) Their contractor must be properly licensed and insured and we require copies of all this.

My lease requires professional carpet cleaning, which would cost more than $500 for a home of that size.Yes, it's reasonable to reduce the cost because she was such a long-term tenant.

@John Jacobs I require my borrowers to have policies that cover replacement cost. 

(larger would require fire sprinklers).