And the amount of cash invested suggests you got a conventional, residential loan that allows you to house hack, is that accurate?

Also, as fyi, the load amount is for $487,500 (I'm not entirely sure if that would fall under a large transaction category).Yup  I would say there is a good chance that you front the 7500 and don't get the loan.. 

If you base your tenant charges on the historical average, you should come very close to collecting the entire amount over a one-year period.Charge a higher rate.

They copy us on their response to the owner, that the property needs a LOT of work done before they will manage it.A decent amount of owners never accept responsibility for their mistakes:(

Welcome to the community and be ready for a huge amount of information at your finger tips.

Hi Chris, if I understand the transaction it sounds like you will receive a 1099-S for the full amount.

The more impactful thing is the rapidly increasing amount of competition in the form of # of Airbnbs in existence.

If it’s over that amount they’ll send photos and quote that you can accept or shop around. 

There are people who buy a longer term (12 months or more ) OPTION giving them a RIGHT to purchase a subject property, at a certain price, within a certain amount of time, and attempt to either sell the option for a higher price or close on a simultaneous purchase and sale to an end buyer paying a higher price.  

Depending on state law the buyer will have a certain amount of time to remedy this violation of covenants.