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.

Look for sponsors that have been in the real estate industry thru several economic and market cycles.

Business is valuable and this has not been a great year for the property management industry.

.- My insurance was cancelled until I fixed roof issues.- Debris littered the recently occupied unit, the basement, and all over the back yard.As mentioned, we had an initial video walk through before the contract to purchase.

Each closing, whether multi-family or single family, is going to have some of the same costs: title insurance, attorney fees, inspection fees, appraisal fees, fees associated with financing, etc.

Those who excel are generally focused on specific asset types whether it be Restaurant/Hospitality; Office, Industrial etc.

Originally posted by @Kathy Fettke:Account Closed and like I mentioned earlier, we found out about their shenanigans very quickly, so only a handful of people contacted them, and we immediately removed them from our referral list.this has happened to all of us in the industry myself included..

Like most service industries, there is nothing more important than the human touch as that is what people relate to and feel comfortable with.

(You know you’re on the right track and you insure future leases end between March and July by varying the length of the new lease.)Good luck. 

Option 1 - NOI = Rent - (maintenance, vacancy, management, property tax, insurance)or Option 2NOI = Rent - (property tax, insurance)in both cases i assume DSCR = monthly payment/NOI