When owning a vacation rental, the biggest financial risks to you are from fire, water, and liability.A solid overnight rental insurance policy will cover you for all of these risks.

If you have any specific questions feel free to send me an email I enjoy helping and talking REI.  

I do enjoy visiting the other 3 locations from time to time, though.

And I bet whoever bought it :)  - enjoys the cashflow.

We already own a primary residence and vacation home, so this will be seen as an investment property. 

Hire a great professional property manager and enjoy your life.

Visio specializes primarily in DSCR loans for short term rental properties (think airbnb or vacation rental rather than an annual lease tenant).

Doing so ensures they've had notice sooner rather than later, and also so they know I'm running a business and not simply enjoying a hobby in real estate.On the other hand, if the tenant doesn't pay the rent when due, the law in Michigan only requires a 3 day notice.

If it is performing well, the buyer pays fair market value for the home and enjoys the benefit of some future income with rentals you already have booked. 

This steady influx of visitors is creating strong demand for short-term rental properties, especially in areas close to downtown, such as Fountain Square, Mass Ave, and Broad Ripple.High Occupancy Rates: Short-term rentals in the city are enjoying high occupancy rates, particularly during peak event seasons.