Everyone gets in expecting easy cash flow, appreciation, and passive income.

Before going get the list, what you think its worth and see what people buy it for. 

I'm sure it could work.I've never had too much trouble with residents losing their keys, and you can charge for having to come down to get them.For contractors, why don't you like the simple lock boxes?  

Originally posted by @Max Gradowitz:I'm in CA and the most common LLC-related question I get is "I live in CA, I want to buy properties in other states, what state should I open an LLC in so I can save money?"

@Tiamo Wright is getting g this over the finish line. 

How do you get double the rent?

When you get a few under your belt, you'll be ready for more of that kind of work.Work with a local Realtor to come up with ARV. 

Since it was for sale by owner, did you use an agent to handle the paperwork, or will the lender handle the legal part of getting the property into your name?

My wife and I are looking at getting our first STR property this year! 

The SGL reflects your share of rental income, expenses, and depreciation, which is what gets reported on your tax return.