(Imagine the dog bite, the underage drunk, whatever the worst in you can think of.)I don’t think i’d sign for triple the going rent.

So my worst case here is a month of vacancy.

Do they offer some sort of Guarantee? 

The interest on your primary is sort of deductible. 

We see all kinds of crazy stuff, and we sort it out on the tax return whether it is a Form 8825 on a 1065 or if it is Sched E Page 1 on a 1040.

Worst house on the best block. 

So the question becomes, because these are very low end estimations (I like to do worst case scenario numbers to ensure I don't over leverage) if the house would appraise for 230 and we could get 75% LTV would that make a big enough difference to make it work?

You can also run your STR in your personal name or elect to start a company that operates the STR i.e. branding.If you do not qualify or for some other reason do not want or cannot qualify for conventional financing, you will likely have to go to some sort of DSCR or other business purpose loan route, and they will actually require you to put it into an LLC.

A reserve is unnecessary, but I still keep around $15,000 - $20,000 in my account.The point is, that you should sit down and assess your finances to determine what the worst-case scenario may look like, how much you would need to cover it without impacting your life, and whether you will need to build a reserve.

I don't have any properties yet, and I don't have any sort of written plan either.