If they start asking for money for more mentoring and training to the tune of $5000-$25,000 or more, run.

So I'll make a new spreadsheet and re-run my numbers to see what I can pull off.

Running a business comes with paying taxes and I will work with my CPA to write-off/depreciate whatever I legally can as a business owner.I see a bunch of discussion around "substantial services".

Southern border of the land is Wilson Creek (a large, well established, full time creek with old growth trees)Approx 1 acre of non-recoverable flood zone along length of creekTwo small ponds on the property, which can be filled in to utilizeSmall neighborhood to East of property line with utilities ready and available for project Currently a couple of older homes and barn structures on property (100% liveable and well maintained)Wilmeth Rd is currently expanding down the block to a 4 lane road which connects to Highway 75 in McKinneyLarge developments are underway within a 1/2 mile to 3 miles out radius<4 miles to Costco, ChickFilA, WholeFoods, Cinemark, major hospitalAT&T Fiber and Atmos Gas at front of propertyA water well can be run, if desired, or tap into the city's water (currently on city water and has large main at front of property)A CE firm has drawn up plans for a small, 12 home, 3/4 acres development.

I realize it's too late for that now but if you run into that again in your career just know. 

That was kind of my thoughts is I got quoted for 8.9% on a HELOC but running the numbers on a long-term rental just doesn’t make sense. buy more doors and let rent and debt pay down and equity do its staying overtime but there’s also a lot of pucker factor if everything doesn’t go according to plan. 

Think of all the horror stories about tenants maxing out the heat with their windows open during the winter, deliberately running water bills up, etc.

This takes awhile, but in the long run you can get your job costs to brass tax and not have anyone else tell you anything different! 

Can't speak to the organization in Michigan but generally the benefits of a well run STRA far outweigh the costs.I am a property manager in Hawaii so we are constantly being hit with new anti-STR legislation and have a large, well-funded hotel lobby to deal with constantly.

It works for small/medium landlords, but in the long run it makes no sense for large landlords who may pay to have an in house software developed themselves.