If you’re running a MTR more like a STR, then you can decide to charge the full boat as agreed or, if you desire (possibly to obtain a good review) find a substitute renter for the period in question and credit the original renter.If, like me you operate a MTR more like a LTR just for a shorter period of time, you probably use a specific rental form provided by either the state real estate commission of the local NAR affiliate.  

The highest and best meets the first Mon of every month near Ivanhoe, they post about it on IG @highestandbest (it's labeled as a clothing brand for some reason but the events are solid and free)We've bought 150+ units of Multifamily and still own and operate 51 units, we also manage for other owners in Orlando, FL and Jacksonville, FL so if I can be of help feel free to reach out

@Zachary Ware What if the SL operator actually lives on site?

They operate like a credit card - when you are not using the money you don’t accumulate interest, when you are using the money you accumulate interest and need to make monthly payments.

Seems wise to leverage a smooth program that has been operating and refined over the years. 

He's operating  business, taking the risk, providing a service to his community.Your tenant should be thankful that he saved so much money over the years, but he's more likely to feel entitled and that his rent should never increase.

King county is not a cheap place to operate.

If you’re feeling overwhelmed, consider consulting a local property manager who can help you plan for the deferred maintenance and set up rental operations smoothly.

@Joey Samudio I would definitely recommend visiting the market you're wanting to operate in and more importantly meet the team you'll be working with.

The workshop was extremely organized, and all the speakers/strategists made us feel welcome.