Hi BP Family, This week, I made a cash offer on an SFH and gave a 48 hour expiration notice.  

Hi All and thanks in advance for any feedback / guidance, I am new to the US market and thought home inspections were common place when buying so any feedback is appreciated.  

The key factor is ensuring the property qualifies for favorable tax treatment by adhering to IRS rules regarding short-term rentals and material participation.For the 7-day rule, the IRS requires that:The average guest stay must be seven days or less for the property to qualify as a short-term rental.If the average stay is 30 days or less, you must provide substantial services similar to what hotels offer, such as daily cleaning or concierge services.Regarding material participation, to further classify the income as non-passive, you must meet one of the following criteria:You spend more than 500 hours actively managing the rental in a year.You manage the business yourself and spend at least 100 hours, with your involvement exceeding that of any other person involved in the rental.Please note there are actually 7 ways to qualify, the above two are the most common.

For investment property, I would say commonly you are going to have 80% to 75% LTV. 

When I sold the house 120 days later, I noticed a $14k charge for lender-placed insurance on the closing statement.I reached out to the lender and provided proof of my coverage during the loan period.

Hello all,I do a rent by room strategy outside of Denver proper, and in the past have been burned a common denominator of two tenant that I allowed co-signers were not a good fit.

@Michelle Nevarez, the most common way people get started is through house hacking.You could use your VA loan to buy a property for yourself to live in.  

3) When it comes to communication with tenants, especially around lease renewals, I’ve noticed some gaps in the tools I’m familiar with.

I found a NOTICE OF SELLER’S TERMINATION OF CONTRACT at https://www.trec.texas.gov/sites/default/files/pdf-forms/50-... but it looks like its between Seller and Buyer.

Is this common in the Chicago market or markets with high property tax?