I’ve learned the hard way that a little miscommunication can lead to big headaches.

.), and anything else that is important to them.Ask follow-up questions to dig deeper and learn more (without being too intrusive) then jot down any relevant notes so that you can reference them down the line during your follow-up calls.

why do you think Morris got away with it.. he pocketed millions and for sure knew what was going on. ???? 

It’s crucial to ensure that you’re compliant with local zoning laws and HOA regulations related to vacation rentals, as these can affect your ability to rent the property.Overall, while it can work well, especially if you're looking for income from rentals, make sure to have a clear understanding of the financing rules, potential restrictions, and the financial risks involved.

1st step is to make sure that the electricity is rated for having electric heat by the electric company.

I wish you would have told us the year, it makes a huge difference.Anyway, everything you mention, plus 1) get a camera run on the sewer line, 2) make sure the Elec panel is newer and sized correctly (a lot of HIs will just say if it's functional or not) 3) Foundation ( is it slab or raised?)

Many investors that I have worked with utilize quitclaim deeds or other ways to transfer ownership after the fact, but like David said you need to make sure it will not jeopardize any financing, etc.

Without plans and layout it is tough to say for sure! 

But if you really wanted to, you could substantially overfund your collateral in case of a quick drop in price or wait until you're sure we've hit bottom. 

Hi All, Not sure I'm posting in the right place but it says this is the Rental Property Management Forum, but it's about the business end.I'm looking for some guidance from other PMs who have created a profit sharing bonus program with their staff.