and, there are fees and costs at every stage - i didn't include them in my example, but you need to because they're significant. 

I recommend you include some of your key qualification criteria in the advertisement.

Becoming an S-corp has some downsides including additional tax prep fees, payroll processing fees and lower social security income in retirement. 

There are many folks, including myself, in this forum that can help and the more info you can provide (mainly numbers on the property), the more we can help you.

Make sure you know the impact that adding an ADU will have on any rent control. 12) investors seldom include the land value in the overall ADU costs.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Owning rental properties, including STRs, does not allow you to fund SEP IRAs.

I net about 3.5-5k a month(depending on airbnb) after all expenses including my primary residence and utilities there.I have built up a good amount of equity in the houses due to the renos I've done mostly myself and also from buying low during covid.

They offer great advice on handling these situations, including tips on dealing with the sheriff and eviction procedure, as well as navigating money judgment collection.In terms of whether you should hire a lawyer or manage it yourself, it depends on the complexity of your specific case and your comfort level with the process.

Next steps include analyzing deals, connecting locally, and studying financing options.Good luck!