A plain STR stay agreement is going to be a problem for 30+ day stays. 30 days means tenant rights kick in in most municipalities and you don't want a squatter that will take a year to remove.Some folks on BP have been able to mix and match MTR with STR.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.PM us if you’d like to discuss this logical approach in greater detail!

I'm not familiar with these deals, but would be very careful when looking at historical results.  

An umbrella insurance policy may get you guys the same result here as well. 

Transferring your current property to an LLC typically won’t result in a tax gain or loss but could trigger transfer taxes depending on your state.

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.This example shows that while the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall annual loss.

As a result, I decided to sell my house.

Go with an area that matches your lifestyle.2.

It would also be more accurate if you are keeping same PM as different managers can have much different results.

Of course it quickly snowballed so the result so far is a comprehensive, detailed model that captures quite a wide gamut of financial variables.