Additionally, I’ve secured seller financing for half of the purchase price, but I’ve been told this could complicate things further since banks typically prefer being in the first lien position.

Would you charge damages from the security deposit?

It secures the loan with equity from the current portfolio, so providing liquidity for the down payment.

I noted the year-over-year increase in STR permits, the decrease in average nightly revenue, and the sentiment that economically-incentivized sellers would flood the market after this winter season (effectively increasing housing supply and decreasing prices).

Operating Expenses:Consider all the costs of running a B&B and event venue—staffing, cleaning, maintenance, utilities, insurance, marketing, and supplies.

She breezed through her application, has great references and credit score, had already paid her July rent/security deposit, has insurance in place, and is set up for auto-pay going forward.Thanks for your insights!

You may have to pay off the whole mortgage if the due on sale clause is exercised.No need to move in an LLC if it has a big mortgage and insurance.An LLC can also give you a false sense of security that can easily be pierced with a decent attorney.Just have correct insurance and properly maintain your property.

I'm also considering having them review the lender agreement forms before signing and securing the loan.

More units = more options :).Its supply and demand.

Less supply + higher rent is what tenants really get with these new laws.