But you would not lose it all, it just becomes a non performer and it would be interesting to see what happens if the homeowner stops paying.

There is more due diligence to perform for commercial as there are can be a different type of lease for every tenant in a multi-tenant building, despite the spaces appearing identical from the outside.

I've performed a few 1031's and had to pay initial fees.

The individual merely acts on behalf of an actual beneficialowner as the beneficial owner’s nominee, intermediary,custodian, OR agent.Note: Individuals who perform ordinary advisory or othercontractual services (such as tax professionals) likely qualify forthis exception.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

for me its just showing past performance.. and kicking the dirt..

I’d love to hear if your biggest home runs have been from: a) buying an existing STR, tweaking it with your own unique skill set and applying your experience-proven enhancements to be a top performing property, orb) converting a previously non-rental property into an STR?

No delays, no red tape, no custodian transaction fees each time you perform a transaction.  

My property is still under-performing."

You want to make sure you can handle the fix and flips you have going on and as part of the agreements I recommend having an extension in the loan agreement.