Of course the co-signer should be significantly stronger in ALL areas as compared to the applicant...usually this is a parent or relative, and they should be well established, with ownership of real estate for years; long and stable employment; no, or very distant, criminal and traffic court records; well funded SAVINGS/IRA's or stock market accounts.

@Sendil Thangavelu save yourself, from yourself and hire a PMC!

But still, preparing maybe 10% of the property value saving for fixing and vacancy will be a good idea.

I just may have a time where savings from one LLC need to be moved to the other LLC.

If you do cleaning yourself, you save on the largest expenses but also limit your ability to scale.

For income, STR saves taxes and gives you the cash flow you’re looking for.

You can save 10-12 percent right there.

Do they have the necessary resources to stay on top of all the tax issues such as 1031 exchanges, 754 Step-Ups, etc.Feel free to send me a private message if you have any questions here.A couple articles you can read that will be helpful:https://www.biggerpockets.com/forums/51/topics/1206189-cost-...https://www.biggerpockets.com/forums/51/topics/1204912-how-t...

Good to see public and private on projects like this.

Had I done that 10 months earlier, I would have saved tens of thousands of dollars, despite the flight costs.