I will also add that many independent travelers that do room rentals enjoy having their own fridge.To keep things kosher in shared spaces, my friend who runs PadSplit says every room comes with one colors or plates cups etc to ensure that guests are accountable for their own dishes.

For my long term rentals I am no longer purchasing in New York State and I am going to be searching out of state in a more landlord friendly state such as Ohio or Pennsylvania.

But that doesn’t mean that you can’t find them with some good old-fashioned shoe leather.By far the best way to find great syndicators to invest with is to get recommendations from friends and colleagues who are already investing.

If they have been paying on time and taking care of the place, there is no need to screen them.If they want their friend or family member to live with them, then you screen that person and decide if you want them living there. 

Check out FilePlace, where user-created forms are available for free.

I always suggest finding an investor friendly real estate agent as they can be your gateway to all other connections!

@Dmitriy Fomichenko not sure if you were aware, but depending on your income and circumstances, you can convert that money into a Roth IRA, tax free.A friend of mine lives in Washington state (no state income tax) and his taxable income is about $50k a year.

I owner occupy the home, renting a room to a friend at $650/mo, and the lower unit rents for $1850/mo - total rental income of $2500/mo.

For example, we have a friend with an LLC with four beneficial owners.  

An ATX friendly STR realtor that I reccomend is CRIBS Consulting.