While statistics for this group aren’t always promising, one thing they deeply value is culture.

But if I were you I would be making a immediate bee line back to the property (xmas or not) to figure what the heck happened and quickly make an assessment to get the property back in condition. 

@Dan Thomas, sorry you are going through this , i think supplemetal insurance is key , I use superhog & so far reasonable & respond fairly quickly 

As such, you get under purchase contract with the home owner and if you successfully close the bank will get their lien paid off, owner will get whatever you promised him on top of it and you will get a title.  

Thanks for the quick reply Greg.

Debt is attractive to most people because they don't have the funds to do a project and instead of saving for years this is faster and easier but things go wrong and if you don't have reserves you can quickly find yourself in trouble.

You'll be tagging transactions throughout the year with categories that fit the Schedule E so when tax time comes (if you stay on top of it) every deposit and expenditure will already be categorized and it's quick to create the Schedule E and/or run P&L reports any time you need to.

One cabin owner I spoke with mentioned that even mid-week bookings picked up when they offered flexible check-in times and promoted the property as a remote work getaway.A quick tip: before committing, check Johnson City’s regulations on short-term rentals.

For a relatively "safe" creative financing, one needs serious reserves (lots of moolah) and the ability to sell or refinance quickly when one of those "hiccups" occur.The gurus usually collect a large fee, from people who have neither money, reserves, nor experience.

.- In some markets, that are growing quickly, with great jobs and lots of inbound migration, this could be a little higher - like 4-5% per year over long time periods as demand outpaces supply.