However, this means you’ll need to comply with the annual filing, franchise tax, and reporting requirements in both states.

But we also do occasional drive-byes and annual inspections to see how the tenants are caring for it and hopefully catch anything that is potentially damaging before it gets real bad.Some of our clients prefer to pay for the lawn care and we charge a lawn care fee to the tenants.

If they gift the land, it falls under the annual gift tax exclusion ($18,000 per recipient in 2024) or the lifetime gift exemption ($13.61 million in 2024).

Quote from @Kaaren Hall: Was going for the best cost-of funds (lower rate)@Kaaren Hall So you were less concerned about your annual cash flow/return (IRR)? 

They are using the CA Fair plan in their quote about its about $6.9K annually.

"the typical home warranty costs $450 annually, and only 25% of premiums are paid to homeowners.

I found a PM called Hostex.io for the STR so far so good I could not believe the very low annual fee which was less than $90 a year.

Projected annual income is 20% of the purchased price.  

Why ask: Some programs offer a month-to-month, no-commitment option so you can try out the program before paying an annual fee.

My goal is to leverage that equity for additional income.