We can use the original part of the house for rental as well, which is valuable to help use understand the STR rental market better, ie what income we actually get as all we have current is the airbnb site itself and airdna (an airbnb analytics site).In short I think the downside is limited, and this deal with give valuable experience while testing my beliefs that it will make me some money!

Let the tenants know you are doing this, so they can hopefully not use water while you're testing things.

My 2 cents is right there with the other guy, get into something on your own first to test the waters and know what it’s like to actually buy and do some work.

In that situation I purchased a SF property 4 hours away from me this year as a fix-n-flip and to test the hypothesis that long distance fix-n-flips could be viable investments. 

In response, I had a plumber and a water restoration company come to assess the situation.The restoration company cut into the drywall, and the plumber thoroughly inspected all the pipes, performed a leak test, and conducted a pressure test.

I do suggest putting the asset in the app ASAP to lower the audit risk.You can meet Substantially all participation tests (test no 2).

A failed pressure test or known electrical issue would prohibit this@Shelby Ek  If the the property did not fail the FSM pressure test, a buyer would be able to turn on the water

Lesson: if you do not have two separate guest stays completed in 2024, there is no way to meet your 7-day test.

They can test even the sharpest investors.Another buddy of mine, who’s based in Austin, had a client that found herself caught off-guard by a last-minute inspection delay on her Oregon property.. from what I’ve heard in Forbes, the local market’s short supply of exchange-worthy replacements didn’t help either.

Hi Ben, doing this for 20 years, I’d say if you move forward, refinance your two rentals to the max they can handle under a stress test for mortgage payments.