@Michael Baum how many Short-term rentals do you manage this way where you are on call all the time?

Be very careful with this as a first time project! 

Perhaps you have this kind of time and energy to waste. 

It is time for new ones and this time I will use a pro once I find one where I own the pics and not them.

Is now the right time ?

A quick formula you can use is your estimated purchase price times .0134. 

I apologize for the inconvenience, but we will not be able to insure your physical property at this time.

I’ve been in this business a long time, and I know firsthand how overwhelming that first deal can feel—especially when it comes to financing.

A turnover means repairs, painting, cleaning, marketing, vacancy time, and lost rent, so a small discount is often a better financial decision than churning tenants every year.There’s a lot more to consider, but these are some key lessons I’ve learned.

This happens all the time, usually with heirs, but it can be squatters as well.