This would allow you to indefinitely defer all of the tax if you sold, and use the tax you would have had to pay, to purchase something nicer in an area with a greater growth potential.   

Hello all,I inherited a house in Phoenix last October.

Wishing you all the best. 

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Quote from @Amber Moelter: Hi all, I'm new to BP and REI.

All of our clients are utilizing QuickBooks, sometimes in tandem with Buildium or AppFolio -- but any of these platforms, when used correctly & depending on how you have your rental bank accounts/ expenses setup will be able to give you this type of reporting + the check & balance to ensure everything is recorded! 

I think the decision comes down to what makes most sense for all parties involved.

All 3 are great books to read, and give to your clients.

With an STR, it has to be absolutely clean, a guest does not want to find evidence of prior guests at all. 

I just checked my 3 unit properties and and they are all 8-20 usage every 2 months and they have had water meters for 10+ years