The CPA is probably going to be the biggest challenge...Best of luck!

The most annoying bit is that this is their biggest selling point, have prevalidated pipeline of deals that you can pick and choose from.

The biggest downside in the system is that our rents are significantly higher than mortgage payments would be if we were able to purchase at the beginning. 

Those are the two biggest ways.

We've found it has superior reporting features, integration features, and is overall more efficient to work within than other REI-specific software.The downside is QBO is not set up for REI so you'll need to do that or work with an expert to ensure it is set up for your business appropriately.Something else to keep in mind is your entity structure and how your entities file tax returns.

@Chiane Martin the biggest challenge to doing Boarding Houses successfully is investing the required extra time.LTR - take the least amount of time, but time required increases as you go from Class A, to B, to C, to D.MTR - take more time than LTRSTR - take more time than MTRBoarding House - can take an insane amount of time to manage!

The downside is your income is not going to be so great to begin with, unless you're already inheriting a book of business from someone in the office. 

Biggest risk is the complaints from neighbors about the noise, although I've heard that there are new paddles that dampen the noise quite a bit? 

The downside is this is a very expensive game to get into.With medium term rentals, it will be less management but monthly revenue will be lower.

Honestly one of the biggest issues I see us having is nearly half of what we do is undisclosed or unknown to general public.