@Treza Edwards sounds like the terms from a community bank in your area, is that right?

Lots of people do short term rentals with pools, this is not very uncommon.

As the new owner, you’ll want the lease and your landlord insurance policy to take effect as soon as you take title to the property.Temporary Lease Considerations:While short-term leases can work well, leasing to a seller long-term often leads to complications.

This can also work with long-term rentals if you end up wanting to do that.

Here's the breakdown:Financing: We used a seller carry deal with 25% down ($100k), a 30-year term (balloon in 10 years), and a 4.68% interest rate.

Make sure it explicitly explains the process for termination if you are unhappy with their services, especially if they violate the terms of your agreement.3.

I have a couple of investments and am about to jump into a Short term rental while still being a w-2 employee.

Signing the lease demonstrates they agree to the terms and then you can hold them accountable.If you don't do this, then the person named on the lease and paying the rent could disappear and you would have no legal authority to charge the remaining three for unpaid rent.

Many banks wont touch deals that are sub 90% occupancy, so you could negotiate short term seller financing to help give you runway to make the building bankable for a refinance while you reposition it.

Real estate wealth is built through long term price appreciation, property becomes (usually) more valuable over time, especially if purchased in areas that have either gone through development or redevelopment.