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

Not sure what rent they were willing to pay and what options are in your area but I would likely want to keep the STR going to and have them rent a nice LTR nearby to you.

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.

@Sidney Johnson just make sure that your finances and relationship are in a good place to attack this from a position of strength.

If you’re investing in this space, let’s connect—always open to learning and collaborating!

If you have at least 10% down, strong cashflow, and credit over 700, this will likely solve your problem.I dont lend in WA, but Im sure there are several lenders on here that can handle this for you. 

Make sure that is tight.

Check out this chart: FICO Score Pct of Population Default Probability 800 or more 13.00% 1.00% 750-799 27.00% 1.00% 700-749 18.00% 4.40% 650-699 15.00% 8.90% 600-649 12.00% 15.80% 550-599 8.00% 22.50% 500-549 5.00% 28.40% Less than 499 2.00% 41.00% Source: Fair Isaac CompanyMake sure you understand the Class of properties you are looking at and the corresponding results to expect.

I own three in Milwaukee and they are my problem children for sure. 

If it is that good of a deal, I would go down to the county office and speak with them to learn the process and the timing it takes to get a permit.