I will send them guidelines as to what is needed in the title commitment and in the insurance policy.Once all that prelim stuff is out of the way, the most important thing to do in a bridge loan is tackle the rehab budget because you can not order the appraisal until the rehab budget is complete. 

Complete renovation.

I completely agree with the importance of securing a good W2 job, living below my means, and investing in real estate early on.

Originally posted by @Jenna Waites:I know this thread is a few months old, but just FYI for anyone finding this considering Resimpli, the biggest issue I see with them is that their report options are TERRIBLE and they offer 0 customization to the metrics they do provide.On top of that they are a completely closed system so you can not pull your data out in any way to create useful reports or integrate with any other system.

It's completely legal, very simple but powerful.

But I’m thinking of getting into STR investment and become more active.I’m a complete newbie to short-term rentals (STRs) and eager to wet my feet in this area.

They told me that they had completed everything but some were not complete- It has been more than 3 months and only 5 out of 7 rooms were leased so far.

Then you can safely complete the 1031 exchange. 

We complete renovated and turned into a successful operation with a current 11% rate cap. 

My client's living room is completely unbalanced and odd looking because this wasn't done, which I had to hide with some fancy drapery "magic" that was expensive.