But if I were you I would be making a immediate bee line back to the property (xmas or not) to figure what the heck happened and quickly make an assessment to get the property back in condition. 

I have a question maybe someone can guide me to the right source,I have a client who's house I am buying, she is currently in foreclosure and refuses to rent.

But I want to understand:How quickly do rental units typically get leased?

A good way to get an understanding of how to get into STR is :STRATEGY: Start Up Guide to Short Term Rental Investing 

@Dan Thomas, sorry you are going through this , i think supplemetal insurance is key , I use superhog & so far reasonable & respond fairly quickly 

Thanks for the quick reply Greg.

And this adds up quickly since the IRS makes you pay that depreciation back when you sell.

You'll be tagging transactions throughout the year with categories that fit the Schedule E so when tax time comes (if you stay on top of it) every deposit and expenditure will already be categorized and it's quick to create the Schedule E and/or run P&L reports any time you need to.

As a newbie, I need someone to guide me from the beginning to try to avoid mistakes and hopefully be very successful.

It has all the fundamentals for strong growth, yet it’s still priced affordably because it flies under the radar.I’ve put together a 50-page guide that covers everything you need to know about investing in Birmingham.