This approach allowed us to maintain full control over the process, from acquisition to resale.

Assuming the house is in great condition and previously well maintained throughout, then as needed work will probably be okay assuming you have the experience to discern what needs basic handy work and what needs a specialist.

When you meet with the contractors, make sure to have them help you understand what you have, what will be required to repair and maintain what you have, and what you should be budgeting for future capital improvements, if needed.As we go through DD, we are also putting together the strategy for the park, performing our rent survey, running our test marketing to understand the demand in the market, and creating the budget for the project.All the best,Jack

Overall, both cleaned up their lives and pasts, both were in construction unions in NYC and made great salaries doing so to cover rent, always kept their apartment clean and around the property maintained when wasn’t even in their lease.

I love working with midterm rentals as they bring more income than long-term rentals and higher occupancy than short-term rentals while maintaining similar rates.

Maintain Accurate Records: Keep detailed records of all payments made to contractors, including invoices, payment receipts, and copies of the W-9 and 1099-NEC forms.

.- More Work: Managing a short-term rental requires more effort with frequent guest turnover and maintaining high standards for reviews.As for platforms, Airbnb is popular, but you might also consider VRBO or Booking.com for short-term rentals.

My name is Justin, and I've been a full-time real estate investor for over 15 years.

Coordinating the swift turnaround and maintaining the property's appeal were key hurdles.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.