crazyDo these people just hand over the keys to their car also and hope it comes back ok?

In lower-value areas like Sylmar, market values max out around $3.28 million, which results in a loss.The key takeaway?

Do you have a price point you're targeting and are you looking for turn-key properties or something along the lines of a "fixer upper"?

@Emeka OkekeIt's great to see your commitment to learning and networking—those are key to success in real estate.

I believe that mentorship and collaboration are key to success in this industry, and I'm here to learn from all of you and contribute where I can.If you're in the Charlotte area or have insights to share, I’d love to hear from you!

Quote from @Tod DuBois: Another Furnished Finder POT cancelled on me after I went out of my way and paid to review them on Key Check and signed up for Key Check contracts, made two contracts, allowed a pet and still, two days before the check-in, they did not sign.

@Chris Mahoo Even without qualifying for Real Estate Professional Status (REPS), long-term rentals offer key benefits like depreciation deductions over 27.5 years, deductible expenses (e.g., mortgage interest, repairs), and up to $25,000 in passive loss deductions if your MAGI is under $150K.

Another key change is making sure your contractor actually sticks to completion deadlines...why, because of how extremely tedious permit inspectors are getting in some cities, which can slow progress in and of itself.

Focus on key areas first (like floors, walls, kitchen, or bathroom), which may help you handle the costs more gradually, even if it means moving in furniture or updating fixtures down the line.Also, since the tenant left it in rough shape, be sure to document all the damage (photos, receipts) in case you decide to pursue reimbursement through their security deposit or in court.

The key is staying flexible—house hacking isn’t dead, but it might look different than you originally planned.Good luck!