Hi,I typically rent my 3-bedroom property through a short-term rental platform, but I was recently contacted by an insurance relocation company looking to place a family in temporary housing while work is done on their home.

It is also worth noting that property management is often closer to 30% of gross rent for a short-term rental due to the much more intensive hands-on management compared to a typical 10% for long-term and as such, I agree with recommendations above that medium term rentals may provide the best of both worlds if you are able to tailor proximity to a local need, e.g. hospitals and travel nurses.Again, happy to relay my personal experiences in the area if you're interested.Best of luck,Patrick

"the typical home warranty costs $450 annually, and only 25% of premiums are paid to homeowners.

Many hundreds of wasted hours, that if included, would wipe out a significant amount of earnings. 1.

That's a typical scenario and could cost you $10,000 - $15,000 so that would be a good starting point for your reserve.But there's more!

Typically, a rating of A- or better is a very strong company.

@Ben CallahanRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

You can typically change the way the entity works - may or may not make a tax difference, but you're only 6 months in so I imagine you're showing a paper loss anyways? 

You won't be able to use conventional financing and must use a non-recourse loan which typically require 40% down.

The mortgage payment is $1,000 on each house, so you earn $500 per house or $2,000 monthly.