And I also realized that we would have to re-tool our operations, which are 100% specialized to the type of property we have.So you don't have to go bigger, unless you want to.

if you have an LLC and both properties are under it, you just need 1 operating account.If both are under your personal, 1 bank account specifically for the rental is enough for operating.Security Deposits should always be a separate account altogether.

Depending on the loan product, you may be able to exclude business debt once the business has paid the debt directly for 12 months.The income and losses related to the operation of the entity will affect the income side of your DTI (like Jay explained) if you own 25% or more of the entity.

I was just on their website looking at the permit process:CityofSac-STR PermitLooks like 90 days max until you get a conditional use permit but still reading as it seems a little unclear:A short-term vacation rental may operate from a location that is not the operator's primary residence for a total of 90 days in a calendar year.

A lot of operators don't focus enough on the asset management component and rely too much on the PMs.

I own and operate a property management business serving these areas.

If it's currently an STR they should be able to provide you with the p/l statement from prior years so you can see gross rents, operating expenses, average daily rates and occupancy levels.

I will say that even though you get the boost from VRBO and AirBNB, the first year of operation is usually lean as you build up the rep.Offering a discount on the stay is a way to be more attractive but don't go crazy.

I’m in Ohio, so I can purchase a property with $40k cash out, invest $10k in repairs, and rent for a couple hundred above the monthly operating costs.

Regardless, guy did a great job so not going to complain about order of operations, but I am in a bit of pickle.