Good Evening BP members, I am looking to take equity out of a very strong performing long term rental.

Yep, it's basically a dummy company, customer service is a black hole, and when I ask for someone to verify my claim that Stephanie told me I could get out of my contract due to lack of performance, they can't even tell me if she's still in charge. 

I would list it everywhere you can, but I would connect with a local high-performing agent, as they will be able to get the most out of it for you.

However, not everyone has the income to qualify conventional, so the alternative route would be DSCR loan where the program doesn't look into your income, instead it evaluates based on the subject property rental performance based on the ratio system.

It is important to know:- It is a lagging indicator (Trailing 12)- T12 performance does not equal future 12, too many variables.- You should pay for the premium version so you can see the comps that went into their calculation to factor if you have a superior or inferior product.- AirDNA is more accurate in areas with more comps and less variation in amenities and unique properties.- Check results against enemy methodBest of luck! 

The short term rental market is alive and well, I am performing better this year than last with no changes in my management.

@Patrick Gray, The first question to ask is if those properties are performing the way you want. 

The asset manager who trusted us to get their BFR communities back on track and performing through hard work and determination. 6.

However, I am not sure how the property would perform as an MTR.

You can still depreciate the property, perform a cost segregation study if applicable, and deduct ordinary and necessary expenses related to being a landlord.