Do I need additional projections and insurance to protect my assests or will I be covered by my LLC. 

Charming Little 3/1 - We are remodeling all inside and out including new roofing, this is our first project out of state, it will be a BRRRR, hopefully first of many to come.

Do you have any recommendations for contractors for roofing or plumbing/hvac?

I've heard of:1) Flat % returns for each month2) Equity in the deal in case investor can't cover monthly payments to investor3) Lump sum return after project completion based on agreed % of money lentAnyone have some thoughts here?

Sometimes a little incentive can make them leave peacefully.Raise the Roof (Rent, that is): If local laws allow, crank up the rent to make them consider greener pastures.

So no, we wouldn't do a background check on the traveler or the spouse because they should both be covered through Airbnb.

It allows you to live in one part of the property while renting out the other, helping you cover your mortgage and build equity at the same time.

Here’s the situation:Key Project Details:•Property Size (pre-renovation): 250 sq. meters (2500 sq. feet)•Purchase Price: 250,000 EUR (1,000 EUR/sq. meter)•Renovation Costs: 750 EUR/sq. meter (includes kitchen, appliances, quality furnishings)• Loan costs (during renovation and renting): 350 sq. meters (due to attic expansion)•Property Size (post-renovation): 350 sq. meters (due to attic expansion)•Post-Renovation Layout: 2 separate apartments•Airbnb Income (24 months): 2,500 EUR/month/apartment (= 5,000 EUR/month)• Other running costs: 600 EUR/month•Projected Sale Price (after 2-3 years): 850,000 EUR (approx. 2,500 EUR/sq. meter)•Closing Costs: Negligible in Tbilisi•Real Estate Agent’s Fee: Typically 3%, but negotiable based on who hires themFinancing Setup:•Property Purchase Financing: 100% bank financing at 5.9% interest (bank has even financed 150% to cover some renovation costs in the past)•Renovation Financing: Our friend is offering to finance 250,000 EUR in cash for the renovationsProposed Partnership Structure:•Work Involved (on our side): Full renovation (10-12 months to complete), furnishing, and property management through Airbnb until the sale (2-3 years)•Profit Split Proposal: 60% (us) / 40% (friend providing renovation financing)Questions for the Community:1.Does the proposed profit split (60/40) seem fair, given the work we would handle (renovation, furnishing, property management)?

If you are tracking depreciation for purposes of repairs and maintenance (like anticipated timing of a new roof for example), you could probably get away with using excel and then just manually booking a journal entry.

Contract didn’t cover.