Use STR-specific insurance to protect both parties and automate operations with platforms like Airbnb, TurnoverBnB, and PriceLabs.Taxable income from the STR must be reported, but you can deduct related expenses like cleaning, utilities, and furnishings.

Next step is typically to file the action at the courthouse, like you said. 

I got the terms mixed with open mortgage (no penalty to pay off early, but higher interest rates) and closed (more typical mortgage with lower rates, but the penalties to pay off the mortgage)...that'll teach me not to post too early in the morning :)

I have seen a lot of folks that typically BRRRR pivot to flipping for the time being.

I can only think that this grows as we move into the typical buy/sell season.I assume that your buyer funnel is full, and a lot of people have the want to buy with a constraint or two (rate mostly) of some sorts and you're working with them to execute their purchase at the right time while working around their constraint.

You will have to gather more accurate operating costs (vacancy loss, taxes, utilities, insurance, mgmt fees, maintenance, HOA) to best determine potential future performance.

The cons as i see it include loosing the 2 of 5 year cap gain exception, typically not an ideal rental because the emphasis at purchase was buying a good home for your family and not a rental with optimal return (my ex-home consistently has the lowest cash flow for equity in my RE portfolio), not disconnected enough from the property causes addition angst on damage and may result in over improvement.  

However, I am still very hands-on for my management business, typically logging 80 hours a week between my two jobs.

How messed up the other utilities are, how much has to get torn up and infrastructure done before any rebuilding can take place. 

They’re now asking if the pet deposit can be refunded or credited toward their January rent to help them during the holidays.The tenant was apologetic about making this request and acknowledged it might not be typical.