Tax saving might change you ROI so focus on meeting those rules if you are going to close on it.Kissimmee’s competitive STR market requires strategic theming and marketing to stand out, but its proximity to Orlando attractions and future developments like Epic Universe could drive demand.This post does not create a CPA-Client relationship.

I recommend checking with your lender about their specific requirements.

Be careful of some of the lending requirements that may ask what your intention of the purchase is. 

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@Katharina Bormann, the responsiveness required likely has to do with how your state laws are with regard to eviction.

However, as a developer, what would I need to know when looking for land as it pertains to detention requirements?

That product is more expensive and does require reserves after closing.

Zelle, Venmo, apartments.com etc all require both parties to have US bank accounts.

I just received an application from someone who meets the income requirement (3x rent) but not the credit rating requirement.

I pass them on to my clients, as the law requires, but I advise them to ignore 99% of them.- You don't need to offer the full asking price as earnest money, but a large deposit definitely helps woo the seller into believing your offer is serious.