Does it go down like a traditional mortgage (funds requested at closing, checks written, etc), or do they hand over the funds to your account beforehand so you can put the money up as if it is cash?

Prepaid items are comprised of property taxes and insurance and prepaid interest.Property taxes and homeowners’ insurance will depend on whether or not you have an escrow account, when you are closing, and when those items are due.

If you have an integrated account and receive the inquiry from VRBO, but then book the guest off platform they double their commission rate to 10%. 

You should also have a conversation with your tax accountant about your bank account setup. 

Are you looking for software to track tenants, accounts, rents, etc?

We have a couple ground up projects in the early stages and will be taking that into account when planning.

Other Security for Payment: None Promise to Pay Borrower promises to pay to the order of Lender the Principal Amount plus interest at the Annual Interest Rate.

There are stated or no income 2nd mortgage loans but typically these are fixed term and fixed payment type second mortgages meaning the interest rate usually doesnt fluctuate like a HELOC or home equity line of credit would fluctuate (prime + margin = annual rate calculated based on a monthly basis). 

I'll admit I do build in a lot of cushion (something I learned from my first flip deal) so I account for every possible expense.

PROGRAM 2 Owner use up to 3 weeks 40% of Adjusted Gross Standard FF&E in high season & 3 weeks Revenues from the Unit and accessory in low season package required.PROGRAM 3 Owner use up to 6 weeks 30% of Adjusted Gross Standard FF&E in high season & 6 weeks Revenues from the Unit and accessory in low season package required.HIGH SEASON: DECEMBER 21st - APRIL 15th LOW SEASON: APRIL 16th - DECEMBER 20thNote: The following fees are deducted from the gross revenue before the split:5% Management fee, 5% Travel Agent Commissions, 2% Credit Card Commissions, $4.00 per occupiedroom night (TRUMP Fee) & Group meeting fee may apply.Other Monthly Fees: 4% of the gross revenue is moved to the FF&E Reserve account and approximately$20 for liability insurance.Monthly Condominium Dues: $895.57 (These can be deducted from your monthly revenue)Initial Rental Program enrollment fee $500 and $2500 initial FF&E Reserve account contribution.Fees for OWNERS STAYS: In Rental Program (Optional): 1