Short term rentals typically need to be furnished and maintained at a higher standard.Tax Implications: Understand the tax benefits and implications of both strategies.

Each piece is a pricing add.Location, unit type/number/style/mid rise/single story, mortgage middle FICO, Down payment percent, prepay type, 3 points - no points, market rents, property good to perfect condition, rented at close with verification, reserves, vesting is real person or single LLC are the pieces that deliver a rate at a moment in time. Rates

I had my tax guy open an LLC for me this spring, but don't know much about maintaining it.

In fact those expenses can go UP and at the same time rents go DOWN!

I’m thinking about doing a HELOC or HELOAN for one of my properties but I’m a first timer.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

Are they abiding by the lease terms, maintaining the rental, paying rent on time, etc?

In light of the one ethnicity element, i sincerely advise that wherever and whoever it is, without question, know the community you are serving and understand how to establish and maintain a level of mutual respect.

What would you say the cost would be to setup and maintain this type of structure?

With someone without experience I would recommend buying a well maintained small multi family home 2-4 units in a solid A-B area.