Quote from @Jake Bute: Good Afternoon,I listened to Wheelwright's podcast the other day discussing how short term rentals do not have the same rules as long-term rentals when it comes to some of the tax laws around active/passive investing.

Hi all,I am new to investing in real estate.

If you know where any more notes are that can be acquired for $.20 on the dollar please let me know and I’ll be interested in those that you do not purchase. :-) back in the day and not a big deal flow.. and all land contracts on bare land.. to put it in perspective. :)

Mine rented in less than 15 days.)All in all, that gives me $140 a month for vacancy, CapEx, and repairs.

In particular the part where I talk about market, is important.

For example, most anywhere will get $700 room, $75 fixed rate utilities, $700 deposit, and then offer a 36 months, 12 month, or month to month lease ($350 fee if ending lease <90 days). 

He will be selling the project to buyers once completed and not interested in operating.How should I evaluate this deal from an investment point?

In the event of an acquisition your "Checkbook Control" set up would not change.

@Isaac Antoine I invest in a market in northern Michigan and now in Indiana.

Processing fee is very small and you usually can get funds in 3-5 days!