I had the capital and I did enough research and I didn't feel like I was gambling.

I had the capital and I did enough research and I didn't feel like I was gambling.

I feel like this was a big gamble for the OP because if other STR landlords are irresponsible, the association could stop STRs- but he should be fine if he has to transition to long term and rent a room at the hotel when he’s in town. 

This home warranty was chosen by the sellers and came with the house but it may make sense to go with another company that covers the second unit.

It also would be a weird letter to send to a lot of the duplexes here in town, because most of them are in subdivisions full of identical properties.At this point I think it's basically gambling unless you're committed to mailing the same addresses 8-10 times minimum over the course of several months.

However, in this crazy Dallas market I think it is more of a gamble; since nothing cash flows, I would be banking on the property appreciating vs bringing in passive income.

Interesting they have chosen $500,000 which is the current current cap for capital gains exemption on the sale of a primary residence, for a legally married couples at least.  

@Wendy DetersI wouldn’t gamble your retirement on flipping.

I agree and yes that is why I've chosen to, instead of taking the house now, leaving it in his name because of the tax advantages. 

It has nothing to do with COVID and everything to do with her husband being in prison and the life they've chosen to live.There is government assistance available out the wazoo.