That guy suddenly owes $250k in taxes plus penalties and fees. 

Here’s a quick checklist to cover your bases:Property Condition: Get a thorough inspection to assess major items like the roof, foundation, and HVAC—this helps you plan for any big repairs.Financials: Account for all costs, including taxes, insurance, maintenance, and property management fees if applicable.

@Zach RumfieldEstimating an ARV involves using public sales data, subscription services, local tax assessor's website, real estate agents, CMA tools, and local appraisers.

There are a handful of lenders that do not have a seasoning period at all to cash out on the new appraised value, however the rate and fees will be higher than if you waited a bit. 

I always charge fees for animals so it's money in my pocket.I occasionally waive the fee for a fish tank, depending on the quality of renter.

Petscreening.com supposedly verifies that the health provider does more than charge a fee for the ESA authorization.  

If so you need to find out if you don't already have that expertise as to who will lend to them, what their requirements will be, and what kind of leverage they can expect, and what the fees will be. 

While you will likely discover some good ones, in my experience you will find people more invested in marketing and gathering fees from your investment then mastering real estate operations. 

It has a lower turnover than STR but can bring in higher rent than traditional leases.Co-Living Arrangements: Renting rooms individually on a month-to-month basis could generate more income than a single long-term lease while reducing management hassle.Furnished Long-Term Rental: A furnished rental could allow for higher rent and attract tenants who don’t want the STR commitment but still value flexibility.Partner with a Local Boutique STR Manager: Some local companies manage STRs with lower fees than Airbnb's traditional managers and could help keep profits up without 20% fees.Hope that helps you with your decision!

@Jacob Sherman We have a partner that is going to sign on off the loan docs in exchange for a piece of the fees or a piece of the GP ups, still negotiating.