- Properly document your rental income on a schedule E and report it to the IRS.Connect with an Investment Friendly Lender- Not all lenders are equal.

Whatver you decide, you'll want to ensure the proper addendum is attached to the lease to specifically outline how utilities are handled and charged if charging tenants. 

All of this works because proper due diligence was spent in the beginning to more fully be aware of what one is dealing with.

If not, Foremost and Proper are both top notch STR insurers.

In my experience, tenants who are paying $300 in rent tend to react more negatively to these things and I've had issues with getting them to leave peacefully, but very broad strokes. 

We almost moved there in 2017 and even had offers on a few homes that went far more above ask than we anticipated.We ultimately moved to Metro Detroit and invested in Detroit proper.

I would need more details about what you are looking to purchase and credit scores to be able to properly price this out for you!

Thus, the next challenge and frontier for many DSCR lenders seeking to serve the growing number of real estate investors pursuing this strategy is to cement a qualification and underwriting methodology to properly qualify MTRs and accurately project their revenues.

You should consult with a qualified contractor to discuss options and costs for proper repairs.

Check with other major insurers as many are offering STR coverage these days.We use Proper.