Quote from @Jeff Calcaterra: We have a potential tenant new to the area who has gone through a paid background check, signed a background check authorization form, sent us a LinkedIn profile, sent an offer letter and says he is willing to send us paycheck stubs, but says he doesn't want us to call HR to verify employment because he is supposed to have found housing already.

Also 4th quarter of last year Packwood and county officially did discuss potentially regulating STR's by either limiting numbers or adding a tax to cover increases in local services that are needed. 

Quote from @Michael Challenger: I have no qualms with hard money lending, but I need to learn more about the process and structure to these for typical deals so that I am more comfortable and in a position to reduce my personal risk and risk to investors as much as possible.

This is in RI so letting the heat out is not just a big cost but a risk.

We put our first home on the market for rent $1450.00 and right away, not even a week my realtor found some potential tenants.

If I have a potential tenant that I like then I work with them. 

The investors get much more profit out of the property.Recommend having a very open conversation with your FIL, expressing your interest in potentially taking over the property from him.

While Treasuries are often viewed as "risk-free" investments, certain real estate deals in today’s market offer a compelling alternative—especially when purchased at a deep discount.Take, for example, a 1,000+ unit apartment complex in a suburb near Michigan.

@Ella Marie the Pro's are you can build long term wealth, the Cons are you can lose money if you cannot properly quantify risk.

@John Reagan Johnson hope you don't mind a PMC answering, but most of our clients hire us because:1) They live out of state and don't have time & expertise to remote manage2) They don't have the time to manage3) They don't feel they have the necessary expertise and/or don't want to risk learning as they go and making an expensive mistake.Go read Kiosaki's Cash Flow Quadrant book.