All expenses would go on each account and it made year end accounting very easy.Ally alerted us that they are closing our accounts due to our failure to "properly secure" our accounts.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

It comes out that they made adjustments on October 4th, to a few proeprty ledgers  18 months prior (april 2023).Also they  are trying to claim their 10% fee from the security deposits they are holding for me.They’re now claiming I owe them money that wasn’t owed, it’s only showing as owed beciase of the ledger adjustment referred to earlier.This reeks of fraud to me.

So, if you secure just 1 or 2 bookings under 7 days, you could potentially meet the criteria, provided you demonstrate material participation and proper active management of the property.

I would throw away the goals and start by assessing YOURSELF and determine what skills and effort you will bring to real estate investing and THEN decide on an investment strategy that suits you.

Granted in is imperative that one has a heart for helping those in the throws of addiction, I don't believe you could or would even want to pursue this business otherwise...

There are still things we don't know... like what the value of other properties like yours in the area are worth...but I will throw out a couple of thoughts for you.As to appraised value - many appraisers look at what the property is being sold for and base their appraisal around that number.  

But I am open to it if I can use the security deposit to replace the carpet (not sure to what extent it is legal).I was thinking of getting landlord rental protection from Zillow to cover pet costs but my premium will probably shoot up since the place is carpeted.Would love your thoughts on this dilemma!

you got a deed of trust or mortgage to secure your note against a certain property right ?

Preparing now by securing capital and building investor networks positions you to seize forthcoming opportunities as market conditions change.