.- 2022 and 2023 Federal Tax returns with all schedules included- business and personal (if filed separately)- January 2024-current Profit/Loss, Balance sheet, debt schedule (template attached here- or can use your own profit/ loss template)- 30 days most recent paystubs and ’22 ’23 W2s if you receive pay checks.- Most recent 2 months of bank statements outside of CBNA- Most recent retirement/ investment/ life insurance statement, if applicable.Is this an insane amount of paper? 

I’ve had properties that were negative cash flow and the rents grew over time to balance it out.

I personally prefer staying in a nicer STR and appreciate nicer finishes, details, and a unified ascetic, and want to provide a similar experience to our future guests.  

Definetely trying to build a balanced portfolio one property at a time.

The tough balance is that the management companies charge 20-30% which will severely limit the positive cash flow.

Current negotiation from LL Commercial lease Monthly Rent $6000 Security Deposit will be $7000 (based on last month rent of the lease term)Six Month Build Out Period - June 1 to Dec 31, 2024 Lease to start January 1, 2025. 5 year term During the build out period the tenant would pay $3000 per month rent (June 1 to December 31, 2024)The balance of $18,000 from the build out period would be paid back over 12 months at $1500 per month on a separate agreement.

(assuming you haven't refinanced a ton and have a large mortgage balance) - I'm assuming you have over $1 million in equity, even at a 4% cash on cash return, you would NETTING $3,333/mo.

Profit/Loss Statement and Balance Sheet for the Property: At a minimum, we would want a profit/loss statement and a balance sheet for the most recent complete year as well as year-to-date for the property, but we would prefer to also get the last 2 years of tax return pages for the property.

I’m trying to balance the costs of doing prelim title with the risk of not.

Sell the land as a first step in cleaning up your balance sheet.2.