The reason is that one wants to be able to properly avail themselves to the laws and protection of the corresponding state where the property lies.

The thing I'm trying to figure out is how to properly qualify as a RE Prof. 

With that comes different exposures and risks that they need to properly rate for.

Buyer may elect to treat this Contract as canceled, in which case all Earnest Money received hereunder will be returned to Buyer and Buyer may recover such damages as may be proper.

Our main goal is to ensure we’re properly protected.Additionally, should we allow pets in our STR?

Place these footings strategically after you have jacked the house up to proper level.

Just know them going in so that you can properly budget.

To navigate the nuance in the laws properly for compliance and to accurately structure our LLC, I am looking to consult with an attorney who knows immigration + business + tax laws. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I underestimated utilities in my early years, so I ensure those are properly captured (electricity, gas, water and trash).