@Kenzer Hodgson For your STR, an umbrella policy can provide liability coverage, but an LLC offers additional asset protection by separating your personal and business assets, which can be valuable in case of lawsuits or audits.

If we sense there is a red flag, were asking them to upload additional documents like tax returns w2's etc.

An example of that is tenant must pay for additional electric over flat fee / flat limit since now there is 2 occupants in the home instead of originally one.

In addition, suncoast will charge you a 1 month rent just to get the property filled, so you are already starting off massively underwater.

Helps you stand apart from similar 4 bedroom homes and if you choose to pursue a rent by the room strategy in can create additional cash flow.

Additionally, do you have any other ideas or strategies that might help achieve his goals without incurring a tax liability?

Do you have additional capital to add?

In addition to these you can find information about appreciation.Many of the people recommending expensive properties are doing so because of appreciation.

Without population growth, your rental income will lag behind inflation, requiring you to find additional sources of income.How long your rental income lasts depends on the job growth in the investment city.Non-government jobs are inherently temporary.

Thanks in advance to everyone who shares their thoughts.Hi Greg, turnkey rentals seem aligned with your current situation and leveraging your wife's additional mortgage capacity would be a smart move.