The brick construction is a plus for durability, but check for any signs of foundation issues, especially if the property has settled over the years.Be sure to budget for updates to key systems—plumbing and electrical upgrades can be pricey but crucial for tenant safety and modern functionality.

More bank accounts will require more accounts to be connected to your accounting software.I personally don't like to have a checking account and savings account for each property(If you have 10 properties, that means 10 checking accounts, 10 savings accounts, 10 account numbers to remember, 10 checkbooks, 10 debit cards, etc)However, it will make using the class function easier when you do your books.Best of luck.

We can teach them how to live in a house the right way and help them with the bumpy road of turning into a functioning member of society. 😆  That's right Dave, lots of good life lessons for everybody!

I would say your best bets is a gym as a tenant amenity or a community room that tenants can rent for family functions, parties, etc. 

That you state in your finder's fee contract with the owner that your sole function is Only introducing the buyer or investor to him/her.

You only roll over the 2mm, take a 500k cash out and then claim the 500k sec 121 exemption.You can think of it like taking the 500k off the top, then the remainder functions as a normal 1031 exchange would.

I started by going through the posts here using the search function and then trying to connect with the realtors and investors and whole salers and lenders specific to the city I am interested in!!

We manage several 'hybrid' properties in Indianapolis, where many function as STRs for the majority of the year and shift to MTRs during the winter months.

Additionally, there was still a fully functioning bathroom during that time.

Excessive complaints or three violations in three years could lead to losing the ability to operate​.Impact on Neighborhoods: Non-owner-occupied STRs (Type 2) may cause friction in residential neighborhoods, as they often function like businesses, which can disrupt the local community atmosphere.Recent Regulations (2024 Updates):1) STR operators must obtain a permit for either Type 1 or Type 2 properties, depending on whether the owner lives on-site.2) Platforms like Airbnb are required to remove any listings that lack a valid permit.3) New noise and occupancy regulations apply, with stricter enforcement through permit revocations and finesThese regulations are part of the city's efforts to balance the benefits of STRs with the preservation of neighborhood quality and local safety standards.4o