However, we will likely need a property manager to assist with some facets of running this rental (since we would not live locally) and would primarily market it through platforms such as Airbnb and VRBO to start, (eventually setting up a direct booking process).Here's our question for those who have experience in STR's or who might be involved in a similar scenario: How challenging is it to meet the material participation hours needed to achieve active status?

The outcome was a beautifully furnished home in a prime location with a low mortgage that generates consistent cash flow.

You'll lose rent while property is vacant, and you'll probably have to do more repairs to attract a new tenant than you would to keep the current tenant.Is all that worth requiring a tenant to use one specific payment platform?

  (2) Variable cost: platform fees from Airbnb and VRBO, lodging/hotel/transit or whatever pass-through tax your local AHJ requires, cleaning fee, cost of replacement for consumables, repair and maintenance, etc. 

It's crazy because there are so many platforms. 

Scammers do exist, and it’s smart to verify a lender’s legitimacy before moving forward.Check Reviews and References: Look for reviews on trusted platforms like BiggerPockets or Google.

Still, it is worth it.Think of FF as a lead generator and not a booking platform.

Here's a good folder setup.Bank StatementsCredit Card StatementsProperty Management StatementsMortgage StatementsSTR Platform StatementsInvoicesReceiptsClosing Documents (Purchase/Refi/Sale)LeasesCheck & Deposit ImagesVendor ContractsW-9’s & 1099’s

The meters are read electronically with 3g and you get great reporting in their water scope platform.

If you go into Central or South Scottsdale (Old Town) $1M will buy you a smaller, older home, OR half of a big, remodeled home (as alot of the Arcadia and Old Town area are turning over old small homes to be big beautiful homes in the $2.5M range and higher).There are options.....for both buying and renting, that would work with your situation.By the way....it's 51 degrees in North Scottsdale right now where I live.