This is advantageous bc later you have a third party loan (not your personal money) so seasoning period is 90 days to DSCR out. 

the only thing with that is protecting future landlords.. but then again thats a personal choice..  

And always check social media for red flags and I agree with Vince, always meet a person.  

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

@Malcolm Brown Are you planning to purchase a property in your personal name or via an LLC?

We make people take photos of themselves holding their ID and then I also meet them in person for the showing - at least for my units on the NW side of Chicago.I've never heard of these testers, but I am not surprised. 

Personally I will not work with them specifically due to this fee.

I love talking personal finance and real estate investing so I would be happy to help.

I have known and worked with Matt for years.I have attended his training and hired him as a consultant.He is hands down the best at what he does.I have personally raised over $50 million for my hard money lending company.I am grateful for a lot of people who helping me with this success and Matt is at or near the top of that list.

Just my personal opinion - get a mentor or a person who already has good experience running STR business, preferably in your area (but not 100% required).