Forgot to mention, most accountant, myself included, have a secure portal to upload documents, many of the documents come in electronically anyway, so it really is very easy

As a co-host for short term rentals, you may not need a license as long as you're not crossing over into activities that could be considered brokerage activities like handling any contracts, collecting rents, doing any accounting, approving tenants, etc.

Make sure your budget accounts for potential unexpected repairs and delays, as these types of properties can sometimes reveal hidden damage during the renovation process.

You'll need more cushion between your income and debt payments to account for everything else - taxes, insurance, food, living expenses, etc...

If you have $400K in a bank account and make $1M a year, that differs from taking out a hard money loan and going bankrupt.   

This is all assuming the rest of your underwriting is solid, taking into account insurance, capex, and misc. costs.

I agree with @Michael Baum to call and make sure there is no ding on your account. 

:according to their accountant, the 36% return is net of fees. here is the info I received : "To answer your question as succinctly as possible, on January 1, 2020 we were still selling shares at $10.00 per share.

They have come to me about buying the home but I have a collection account about to fall off my credit in a few months so I am not sure I would qualify (in addition to my income may not be high enough).Are there any workarounds to maybe purchasing the home?

@David Cherkowsky, the lender will take the full rental income reported on the tax return, for that property, subtract it from the total expenses, add back depreciation, property taxes, mortgage interest, home insurance, HOA(if applicable), sometimes repair expenses(must be documented), divide it by the total amount of months the property was in service for that year (THIS NUMBER IS ON YOUR TAX RETURNS, SO MAKE SURE YOUR ACCOUNTANT DOES NOT PUT 12 MONTHS), and subtracts it against your total monthly mortgage payment.