If you can’t search with the search tool by member “category: that would be another miss.

Finally, short-term rentals can offer potential tax advantages, as many expenses associated with the property may be deductible.

Here are a few suggestions on how you can maximize the wealth of information available: Check out the blogs and podcasts, or take advantage of the search feature (magnifying glass).

.- If you try to hire contractor directly, you have about a 90%+ chance of getting taken advantage of.

For active investing it is also helpful to have some type of advantage that sets you apart from other investors - that could be construction or rehab skills, market knowledge or anything else that gives you an edge.I was an active investor and didn't really have any of those skills.  

If you did, you could take advantage of some unique strategies, like renting it out while traveling (as long as it’s for 14 days or less) and having that rental income be completely non-taxable.

These should be reflected in the purchase price or negotiated as part of the terms, such as the seller carrying some of the renovation burden.Use seller financing to your advantage by proposing a price closer to $225,000-$250,000 with terms such as 20% down, a low interest rate (4-5%), or interest-only payments for 3-5 years, with a balloon payment once renovations are complete and cash flow stabilizes.If the seller is firm on price, consider negotiating higher down payment terms to reduce the financed amount, paired with interest-only terms or a price reduction tied to renovation milestones.Key questions to address include the condition of the septic system, which can be a significant expense if it fails.

However, ensure you have a solid repayment plan to avoid over-leveraging your home.Focus on long-term rentals that generate steady cash flow and offer tax advantages, such as depreciation and deductible expenses.

If anyone else in this group is also in my same category and waiting for their home update kindly let me know so we can go together on this. 

Again, as you asked, no one is in trouble, but we have high expectations for our team, and there are indeed steps we can take to improve.I'd like to recap for readers, and please let me know if there is anything stated incorrectly here.We primarily failed to be proactive on the front end once we knew the resident used the legal system to their advantage.