If I was just going to have one or two MTRs I probably wouldn’t do it but with several in the same house I think it makes sense.

It may also help to speak with both agents and wholesalers to get a better sense of your options before making a decision. 

Most cases it’s going to require a 3 year prepayment penalty unless you take the 5 year for the lower rate.In most cases even though people hate points it makes sense if you run the math to check the recouperation.

I wanted to get the opinion of those on BP regarding thoughts on this strategy, if it makes sense and if there are any tax implications.

Yeah I think in the future when you have more properties it makes sense to have an LLC but not for a single property. 

Hopefully this makes sense. 

I hope by helping me make sense of this I will have better clarity moving forward and maybe land a deal sooner than later.Thanks!

hope this makes sense lol took me a while to write this to try to explain it best

It might help to connect with local property managers who handle STRs to get a sense of what types of properties perform best. 

Apparently, they think they might have to return the deposits directly to the tenants, which makes no sense to me.