Not all buildings allow STR due to regulations.

Transparency, daily & weekly updates and follow-up with all concerned parties.

Liability—If the loan is in your name, you take all the risk.Reserves—Even breaking even, unexpected repairs will come up.Since cash flow is tight in your market, make sure you’re comfortable holding long-term.

It really all depends on the amount of risk you want to involve yourselves in. 

Here are a few suggestions on how you can maximize the wealth of information available: Check out the blogs and podcasts, or take advantage of the search feature (magnifying glass).

Hi all!

The short sale real estate agent should be able to advise you on all of the loss mitigation options and laws specific to your state and help you with each option prior to listing for sale as a short sale and trying to liquidate the property.

At the same time you're figuring that all out, get your brother and friend under a lease, or at least, a written agreement both parties can agree on.

Andrew, we've been using a tool that we created to analyze all of the on market properties in our area at once, so you can filter the best ones. 

I use to tear down dozens of homes here and in Franklinton that almost blew over. not a lot in linden since they are built after 1945 and without all the major issues.