This apartment required a cosmetic renovation that is going to run me around $27,000 to redo.

But It requires an endorsement.

Many insurance policies also require re-development within two years, a near impossible timeline in a region with the coastal commission, perhaps only second to Manhattan in terms of permitting and red tape.

Has a garden, Parking, and hits the requirements to be able to get it licenced as Local Accommodation.  

The higher insurance premium required a higher escrow payment which the original borrower didn’t let me know.  

I’d like to add that it’s also landlord-friendly—licensing is not required and there aren’t any rent control laws in the state.Likewise, both Greg and Eric have already spoken at length about Montgomery, but I want to draw your attention to a few other under-the-radar markets in the state that also have the potential to cash flow well.The places I had in mind include suburbs outside of Huntsville proper, like Decatur and Hartselle.

If you are not already working with a realtor that is well versed in STR and knows ALL of the requirements for STR, do yourself a favor and reach out to @Josh Green.

Quote from @Abhijit Roy choudhury: Financial Crime enforcement Network, requires reporting of Beneficial Ownership Information filing by 01/01/2025.Does this apply to us, Rental LLC owners.

These need 20%-25% down, require a 680-700+ credit score, and 6 to 9 months of reserves (reserves are payments in the bank). 

This was a cost-effective way to meet our requirement of providing just a stove and refrigerator (we don’t include washers or dryers), without breaking the bank further.But here’s the twist: If we were upgrading appliances for a long-term tenant with a stellar payment history, we might invest in brand-new appliances.