King county is not a cheap place to operate.

@Joey Samudio I would definitely recommend visiting the market you're wanting to operate in and more importantly meet the team you'll be working with.

If you’re feeling overwhelmed, consider consulting a local property manager who can help you plan for the deferred maintenance and set up rental operations smoothly.

Although its mainland presence is dwindling, the chain will continue to operate in the U.S.

Can anyone point me to a step-by-step guide for end buyers working with wholesalers? There are a few things I'm specifically interested --- Do wholesalers actually enter into a PSA? Or is it a trimmed down agreement (...

It works like this:(1) Save up enough money for a down payment(2) Buy a single family home that you will Airbnb/VRBO(3) Ensure the “average period of customer use” is <=7 days(4) Materially participate (5) Cost segregate the property, resulting in large depreciation deductions(6) Use the losses from step 5 to offset your W2 incomeWhat makes this possible is that operating an STR is considered “non-passive.”

Since you're not pursuing a real estate license, consider wholesaling to gain deal experience or help manage local properties to learn the day-to-day operations.

@Raymond C WestIf you can't afford to pay a professional to set it up are you really going to operate it appropriately? 

Hi John- they seem to be in a tough spot related to the Synapse Financial bankruptcy- they've essentially suspended operations and are trying to sort through the mess.

Otherwise you can break the limited liability benefit (if operating as a LLE).