I am also involved with two local REIAs and thought I could market to them and the agents their to bring their buyers

Your CPA is likely considering the intricacies involved in ensuring everything is filed correctly, which could save you from potential headaches down the road.That being said, I understand the desire to explore more cost-effective options.

If it's vacant and really needs cleaning/repairs, then I'll wait until it's more presentable.2.

Long terms rentals will have repairs from time to time, but if it is a true emergency, you are going to be calling someone (eg plumber) to come in and fix something, so that is no different than your own home (minus the clean up). 

But if you’re overseas or not actively involved, you likely won’t meet the criteria.

Commit to spending less, paying off high interest credit cards, maintaining positive cash flow in your personal finances, and cleaning up your personal balance sheet.  

But in a rooming house, they pay a much lower rent cost, and get the benefit of a professional cleaning crew doing common areas, kitchens and bathrooms, free high-speed Wi-Fi for their streaming devices, etc.

@Miguel Del Mazo MANY investors who get involved in managing other investor's properties make the same mistake you are making - they SEVERELY underestimate the time it takes and UNDERPAY themselves!

We currently use an insurance broker that covers while in rehab and then adds loss of rents later once applicable, but communication is difficult when there is a broker involved.

Hey @Devin Bost, I would highly recommend a few things to help with this. 1) Have systems and processes lined out for any emergency you can think of.2) A spreadsheet of subcontractors/ vendors that could handle the situation that arises (plumbing leak, electric out somewhere, etc.)3) Your cleaning team and handy person should be utilized for some things.4) Something like Breezeway can give you 24/7 support around your property with a dedicated phone number line.