Keeping an itemized list with a breakdown of expenses is essential for record-keeping.

This typically costs money, maybe $.02 -.10 per record.

I am curios if you declare anything to the city after you did that for the official record ?

The key evaluation data points for STR investors are accurate records of rental income and occupancy and/or projections from local mangers and online tools.

If it’s illegal activity that’s one thing, but if the sponsor has a recent poor track record - who is to confirm that or verify it without having it third party independently audited - same goes for those good sponsors.

"for rent by owner", investors)-search for non-homestead properties in your county and send postcards to those owners that own homes that meet the criteria you want to focus on-network with real estate attorneys -network with trustees in banks that offer trustee services-look up court records of landlords who have filed their own evictions and send them postcards -network with HOAs that have non-homestead properties in that association -when you see a "for rent by owner" sign in your area, send the owner a letter -join Facebook groups (for rent by owner, landlords) and being to contribute -improve your SEO on your website-find someone who can help you gather landlord info from Zillow, etc.

.- Document everything: Keep detailed records of expenses, work completed, and agreements.- Consider liability protection: Look into forming an LLC or other business entity.Starting with cash is a smart move to minimize risk and learn the process.

As stuff comes in, I record it and put it where it belongs.

Thank you,Wade keep costs low, we are a construction management new build general contract for 1-3 family and large commercial apartment buildings and you can keep the fee from a GC lower and who has more experience. don't take hiring into account. review who pulled building records. a 4 plex in central TN should be similar pricing to us your build cost wouldn't exceed a build fee of 100k. 

You can put your funds in a interest bearing account/money market/savings, you just need to account for the dividend incomes when recording the books.