This does not prevent any Member from selling their house, refinancing, or purchasing additional property after closing as long as they meet the occupancy requirement.NACA puts a $25,000 soft-second lien on the property to ensure that the Member lives in the property for as long as they have the NACA Mortgage.

This allowed us to not only tap into the tourism market but also gave us access to traveling medical professionals and students as well that would provide long term tenants if we were prevented from continuing with the STR model.Although we still have a long ways to go to meet our goals, we are excited for the foundations we had setup for this property to this point.

It also prevents giving me the added burden of additional debt liability should something happen and there be massive unemployment or another rent moratorium in the short term.

Additionally, consider using a secure payment method for the deposit to prevent issues.

Follow all legal requirements to prevent any problems or fines.

And while true, my main goal is to try and prevent having to do those steps, because they are a huge pain.

Bonus depreciation and Section 179 allowances for improvements can be utilized, with the latter, however, capped at zero to prevent negative losses.

I just got a few for under 90k,( one for 38k) that need under 10k and that's only because I am doing preventive maintenance.

I also like to make it a condition that the seller deliver a couple of days before closing an Estoppel Certificate from the tenant where the tenant confirms:  (a) true and accurate copy of the lease and all amendments thereto; (b) address/unit they are occupying; (c) statement that Landlord is not in default under the Lease: (d) statement that Tenant is not in default under the Lease; and (e) statement of monthly rent and remaining term.This protects the buyer in the event there has been a subsequent written or verbal amendment of the lease (that the seller does not disclose) and prevents the tenant from making statements to the buyer/new landlord that are different from the terms of the lease that was provided to the buyer from the seller.Vivian

., etc.A good projection model will show you not only how to reach various goals, but it can show you all sorts of potential roadblocks that could prevent you from reaching goals (as well as potential solutions to those problems).