Enough reserves to manage 1 cycle of capex + 2 years of vacancies on day 0 of acquiring property.

If they can't figure out their issues, don't renew and find new renters.If one of them wants to rent alone, check their financials to confirm they can afford the rent alone.

Late last week we went live on booking platforms, and while reservations are slow, we received our first booking for Memorial Day weekend.

This is why it's critical to have liquid reserves.

My expected revenue next month from confirmed STR bookings is literally DOUBLE what I will earn from my medium-term rent.

My opinion reviews your financial situation first because jumping into real estate or real estate investment you will need at least six months of reserves financially self-sufficient to support yourself.

Your current home becomes a rental once you've moved out, and even if you aren't cash flow positive in year 1 (new rents - debt on new primary - current mortgage pmt), focus on aggressively saving towards a $10-20k cash reserve & have faith that market rents will rise over time to catch up to today's affordability crunch.or 2) Save up a full down payment on an investment property.

We also recently added an early check-in upsell that checks for reservations checking in today with no same-day check-out and proposes an early check-in).

The longer the tenant stays, the more insurance can be collected to add to the reserves .

IN any case, I would send a certified copy of the new terms to the Housing office along with same copy to the resident; Then I would confirm with the Housing Authority/Resident they received the letter & acknowledge the new terms.