Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

If you own 25% or more of any LLC you are required to register with a FINCEN ID for beneficial ownership by January 1st or you could be subject to $500 per day fines.Have you taken care of business?

So, they make honest mistakes that can still cost you thousands of dollars.- If you try to hire contractor directly, you have about a 90%+ chance of getting taken advantage of.

Never invest in any city on this list of the 50 most dangerous US cities.Low operating costs: High operating costs are one of the driving factors for many companies, leaving states with high taxes, regulations, and other costs.

-Opportunity cost: A 7% interest rate isn’t great, but if you think you can achieve returns higher than 7% by buying another cash-flowing property, paying off the mortgage might not be the best use of funds.Now, let’s explore saving to buy another property:Investing in a Second PropertyPros:-Diversifies your portfolio, reducing risk if your Palm Desert STR underperforms or faces challenges (e.g., stricter regulations or lower demand).

I was wondering if there would be any advantage creating a LLC or business to pay for the renovation costs.

So I would say either you need an agent who is a better negotiator than you and justifies their cost or if you value a professional opinion who can double check you.

I would still need to subscribe to a streaming service for cable tv, so cost savings wouldnt be much (or a wash), but otherwise it seems like it might be a viable alternative?

All strategies can be lucrative and all can be costly. 

It cost us more money than we would have liked to have spent, but we were able to put a house on the market that we were proud of.