So if I’m understanding correctly, if you sell your home within 2yr of purchase, you don’t have to pay capital gains taxes? 

You are correct that they are headed for serious trouble. he number i called..cant remember his name but if you see other posts on here he has posted 9196045703 Brent? 

You really don't need that LLC until you pay off the property and it's questionable if you need it then as long as you maintain your property and have correct insurance.Yes to wind insurance, not sure about hurricane.I use Foremost STR policy for one property.I am about to switch to USAA (retired Navy) for another because they quoted a policy that was 3k lower than what we have.

I'll need the LLC to do that, but are my assumptions here all correct?

Perhaps a seasoned lender can step in and correct me if I am wrong! 

I do hope that attorney on this forum will chime in and correct my unreliable layman's interpretation.

Additionally you can always write in what was done to correct it and explain that since then you no longer had issues. 

It works just fine if the operator knows what theyre doing and structures it correctly.

That being said I still had to monitor him and make sure he did the work correctly and not just lip stick on a pig.

So, if you fail to apply the correct assumptions to a property, your expectations won’t be met and it may even be a financial disaster.We use the following to rank Property Classes, in order of importance:Property Tenant Pool: closely linked to location, but not always.Property Location: closely linked to tenant pool, but not always.Property Condition & Amenities: it’s important to, “Maintain to the Neighborhood.”Key metrics for each Property Class:Class A Properties:Tenant Pool: Majority of FICO scores 680+, no convictions/evictions in last 7 years.