We are getting a sofa bed for the living room of our STR.

For quick sale we are prepared to sell at the 1% rule of current rents and will consider owner financing with 20% down (30 year @ 7% w/ a balloon between 3-7 yrs). 

What we are really describing is “contract flipping”.  

We are looking to purchase a fourplex in the Colorado springs area, for our first property in about a month or so.

My husband and I started our property management business about 18 months ago and absolutely love the service and peace of mind we are able to provide to clients.Percentage of income is often how people charge but this varies widely by location and also type of rental.

We are seeing its very challenging, especially for out of state owners. 

But we are setting things up legally for her to take all that she needs in the event of something happening such as if I die or something.

Working on a few STR deals with savvy investor sellers and we are wrapping some really low interest rates so the DOS clause concern is very much alive… We have decided to go the land trust route w/ one of the properties to try to be as careful as possible.

We are both 1099 employees and don't have the bank statements or tax returns to get a mortgage anyway.

We are not sure how to handle this, but I’m considering talking to counsel as far as an attorney goes.