It's the lenders who usually require that the property is listed under an entity, depending on the state that they operate on.

Quote from @Erick Pena: A "good" rental property is one that covers all expenses (mortgage, taxes, insurance, maintenance, property management fees, and any other costs) and still leave a surplus (commonly referred to as cash flow).Calculate cash flow as: Cash Flow = Rental Income − Operating Expenses − DebtThere's much more to it, but that's the basic idea.

Nothing wrong with LTR's - but what I like most about STR's is you are (usually) operating in better appreciating submarkets. 

We have a RE attorney & mortgage broker to make sure our operation is legal & compliant.

The issue is: can the operator survive to that "long term".  

I was conducting an extremely seasonal business and after 8 years of operation the business was insolvent. 

Currently, I am self managing all the operations.

Start by deepening your understanding of CRE fundamentals, including net operating income (NOI), cap rates, and lease structures like triple net (NNN).

My questions: - Looking to understand pain points of operating in Indio that you wished you had known - Besides the music festival in April, is there frequent tourism ensuring you are making the annual CoC ? 

I realize this is an older post, but I just wanted to drop a note and mention that my family and I own and operate a property management company that primarily serves Palm Beach County.