However, short term rentals are much less passive than long term rentals and are essentially a hospitality business, which is in and of itself required a whole additional layer of knowledge and expertise.With regard to your question about private lenders, it’s important to draw a distinction in terminology between “private” and “hard money.”

The new owner did not make the mortgage payments and the seller had no idea until they were served foreclosure paperwork.

Second, you don't want to operate at a net loss, it's money out of your pocket every month and essentially negates your equity gains over time.

You may not like their current deals/offerings, but I would call each of them and let them know what you are looking for - essentially your "buy box."

Add to that the fact that private financing typically involves way less bureaucracy, with reduced paperwork and fewer hoops to jump through.

It's essential to screen your tenants thoroughly.

Higher property taxes can eat into your profits, so it's essential to factor this into your calculations.It's worth asking yourself if you'd want to live in the markets you're considering.

More states are creating "just cause" eviction laws, essentially stating the landlord must allow the tenant to remain in the property except for a few specific situations.It won't end well.

When 99% of transactions have commissions above 2%, it's essentially a fixed rate, not a truly negotiable one.I respectfully disagree with the concern about "buyers that don't have money to pay a commission to buyer agents."

Here's how it works:If their deposit is $1,500, they can either choose to pay the SD in full or elect to take out what is essentially a loan with Rhino Insurance and only pay $25 per month ($20 goes to Rhino and the remaining $5 goes to the PM company) toward their $1,500 SD.