Regardless of the type of lender you work with, building a trusting relationship is crucial.

TLDR version: if you switch to default tax settings, you'll be responsible for remitting ONLY the 1.75% county tax out of the payout.

Just keep those off your P&L right from the start.If you have questions on the maintence percentages on the POH homes... lmk and I may be able to help.Hey Roger thank you for your response.

Matt Scott, Incite Venture Capital and his team can be summarized as follows: over priced, non responsive, non professional agreement breaking, chip on their shoulder and otherwise a bad investment.

Quote from @Harry Ji: Quote from @Zorya Belanger: Quote from @Harry Ji: Quote from @Amit Garg: Thanks @Zorya Belanger for your response.

Quote from @Barbara Potts: Mike, thank you so much for your response!  

I’d recommend something like the tenant is responsible for the first $500, $750, or whatever in repairs for each occurrence.

@Brittney Yang first red flag is it doesn’t sound like he’s that interested in long term holds but the primary reason for partnership is expertise in renovation and secondary reason is balance sheet and income to help get financing.Regarding reason one, I would offer to compensate him for his time in assisting you and have a very clear scope of what that responsibility is.  

Has anyone else received this type of response from Obie?

Unsure about STR regulations in Charleston but I would advise you to search "arbitrage" on this forum and read up on the hundreds of pros and cons responses here before diving in to any market using the arbitrage model.