We strong suggest to always get a Real Estate Attorney to review all documentation and prepare the seller docs (do this always - even if you have a Realtor).Most BP members are experienced enough to feel comfortable doing this themselves ... after you do 2 or 3, it will become routine.You are saving thousands of dollars so you will need to do a bit of work yourself, but it is worth it.Never pay full commissions any more ... if you decide to get a full service Realtor to list your house, that is fine (the Entry Only concept is not for everyone, we understand), but always negotiate a flat fee. % commissions are not valid any longer ... what additional work does a Realtor selling a $600,000 has to do than to sell a $400,000 that is worth $6,000 more in commission?

I have spent quite some time learning, researching and preparing for my first Short Term Rental.

It sounds cheesy, but the best way to prepare is to work with a friend or two and role-play.

One idea we want to test out is a room setup that can accommodate families who would need two rooms at any other hotel. 

I know I need a perk test and a survey, but the land owner would like an assessment of how much and the time frame.

Preparing for a motorcycle ride is similar to learning to ride a bike.

Have a legal advisor or counsel review your documents before signing.These will make your ultimate exit strategy, post Hard Money financing period, much easier when: - preparing & submitting paperwork for individual tax returns - maintaining the note in good stating with consistent payments & digital payment history paper trail - digital and/or easy access to documentation - preparing for a Re-Fi, Conventional financing, payoff, or even Flip/Sale & deed/title reconveyance to remove the Hard Money Lein holider at the end of the note's term

Do you have a bookkeeper or someone helping you prepare taxes or are you managing the finances all on your own? 

I put three prong outlets in and tested them but the failed.

If you’re prepared financially and find a good opportunity now, it might be wise to proceed rather than waiting for uncertain future changes.Ultimately, it’s about balancing predictions with your personal and financial goals.