You do need to send in a check with the extension, the irs provides guidelines for calculating the amount.Real estate investing complicates taxes sufficiently that I have found I save way more than I spend by having a CPA who specializes in real estate investor tax returns.

Especially if they specialize in seller disclosure problems.

If you are not planning on living there too, you would only be able to offer a gift to that person and you would likely not qualify as an eligible gift donor unless you are closely blood related. 

I don't use a special lease or anything, and my guests are only staying days at a time. 

Your insights into how these smaller, specialized shops operate and the value one can bring by helping them modernize are incredibly valuable.

If that's not what your desired outcome is, do not get suckered into doing the FHA streamline refi.So at the end of the day, you have options, but if your goal is to buy another property, it's best to walk through all your options with a loan officer who specializes in working with investors and these exact scenarios, and map out a gameplan not only for your current property and next property, but getting to property 3,4,5 etc so that you don't get stuck on your journey.Hope that helps and best of luck!

If you need assistance with the setup, my best friend is a lawyer who specializes in these matters and can help.

Another problem I see is investors using 8% for PM fee when buying in crap hole areas where a specialized PM there goes for 12 to 14%.

@Shawn Good, my understanding is Fox Lake allows STR but you have to get a special use permit and it's a 2 night minimum.

Regarding a refinance on a sub2, are there any special conditions or is it straight forward like a normal refinance?