Imagine a $185K income earner ($100K after tax) having a $600K mortgage.

Your also spending 4-5k a year in taxes on a 90k house. 

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

Don't forget your taxes on a sale!

Two of the units have their own W/D. 4 others share a separate W/D so it isn't taxed very much.

@Nathan Frost uhm, not sure you understand Detroit market.Motion lights & cameras may work half the time at best.Too many insurance claims will get you cancelled and eventually black-balled.But, what do we know after 24 years in the Detroit market...

If you want more cash flow and want to walk away with more of the 80%, perhaps identify another market and do a 1031 exchange so as to not pay capital gains taxes.  

This was a few years ago, but at that time as I recall they were looking to do more long-term property leases over owning properties and doing pretty landlord friendly leases where they would do repairs and even pay property taxes. 

3.Draft a written agreement where the property owner retains full ownership of all guest funds (nightly rates, cleaning fees, and taxes), while the cohost invoices for management fees and reimbursable expenses?