If you haven't already, you should be receiving your property taxes soon.  I thought it would be a good time to hand out some pointers we often advise to clients on this:1. Understand Your Assessment: Review your prop...

Now if you have a place that is short term say in summer and mid-term winter because you get a significantly higher rate in one season for STR that makes sense.  

For property owners with out-of-state investments, is it necessary to keep all receipts and invoices for write-offs during tax season, even smaller jobs performed by the PM's handyman?

Most lenders have seasoning requirements, so you would need to own the property for 12 months to obtain a loan based on appraisal rather than lower of appraisal or purchase price.The longer the period of since property purchase the more likely an appraisal higher than purchase price.The exception may be a "hot" market where prices are moving up sharply almost every day. 

It would be helpful to understand the seasonality and other factors that affect bookings.Also, how long have you been a host, and what have you found to be key to your success?

That may also give them some time to make repairs, upgrades, or setting up new marketing efforts to prepare for the next busy season.

If, while running your numbers, the returns are within range to your criteria, do not lower the expenses to "make it work", but just know that some months may be higher, some may be lower, and if you have the cash reserves to support a higher bill or unexpected repair, then the underwriting at least helps you mentally prepare ahead of time.Any calculator, based on the inputs from any noobie or seasoned professional, will NEVER be the same as your actual numbers.

Tax season!

Consider listing during peak seasons when demand is up, and you might just be the early bird that catches the worm!

I don't plan on buying anytime really soon but I'd love to start connecting with more seasoned investors and local professionals within the area.