It’s a short-term option, typically 12 months, that can provide the flexibility and funding needed for a $150K renovation.Here's why it could be a great fit:-No prepayment penalties — so you can sell or refinance without penalties.

Chances are you have someone with honor transparency and integrity on your hands and that is very rare.If the answer is no... well, if he lied to the homeowner, why would you think he would not lie to you?

I have them on several units and no issues.

Close to a cool little town, close to an area attraction, etc....Also do a search here and see how to screen guests, in addition to what the hosting sites do.... like no last minute bookings, no short stays....

Ive also asked if they have other previous borrowers that I could talk and was told no for their privacy.

3. what type of deposit / reserves can you provide in case the monthly rents you receive do not cover the rent you pay me?

No i do not have a loan on this property.

No need to add an LLC when you're just starting out.

If this property is hard to rent, or is functionally obsolescent (only 1 bathroom, no yard, etc), or has deferred maintenance that will be costly, or is in a location that is not appealing to Tenants, then maybe a sale would be a good option in favor of a property that has better Tenant appeal, which will likely increase rent and avoid long vacancies in between Tenants.An option to consider....

But other than that, no damage or wearing out of stuff so far after 8 years.