Ensuring that you have, and continuously maintain, a safe property for guests, is barely even an afterthought for most STR investors.

Like all aspects of investing, the most important step is to do your research on the home and tenant.Review their original applications to ensure the current residents meet all qualifications.

This designation ensures you are working with a highly qualified professional.

I don’t think his parents did a very good job in ensuring he wasn’t being raised with entitlement issues!  

You’d still be using your funds, but by delaying ownership transfer, the expense would fall under your ownership period, making you eligible for depreciation.Discuss these options with your tax advisor to ensure everything is structured properly for IRS purposes.

Also means no regular heat source.We always leave the cabin with a good wood supply in the winter, fire starters, lighters and such to ensure they will have a heat source.  

If it’s strictly an investment, you may need to consider conventional loans or other creative financing options.Cash Flow Analysis: Do a thorough analysis to ensure that the rental income will at least cover your mortgage, property taxes, maintenance, and vacancy periods.

This ensures that both the lender’s requirements and your liability protection are addressed.

Set pricing appropriately to ensure the business remains sustainable.

It’s always a good idea to consult with a tax advisor or real estate attorney who specializes in 1031 exchanges to ensure you're following all the rules and maximizing your tax benefits.