This means you may need to put more down on one home so it pays for itself.Here's Coach Carson explaining the simple concept in under 20 minutes.

I know property managers in every state who use non-refundable application fees and it is the standard for every class of property and applicant.

The rules and payment standards vary significantly from one area to another, so familiarizing yourself with the local housing authority's procedures is key.

Looking at this mathematically, if you assume a 50% non-renewal rate (industry standard) and use the low end of the range of $5,000 per non-renewal, there is a loss of $50,000 per year on a 20 unit property.

Now this Jan 1st another slew that pressed the bar of standards and requirements even higher. 

More about the concept of STR tax savings is here:https://www.biggerpockets.com/forums/51/topics/1122635-the-s...As to one CPA saying that your losses would still be passive, we cannot comment.

One key he found was mixing a welcoming atmosphere with firm guidelines.. it typically falls under standard tenant landlord laws for eviction.. so you’ll want to double-check local regulations.You mentioned Furnished Finders and Padslipt.com.. from what I’ve heard, those can be great if you’re targeting traveling professionals or short term visitors.

@Ben CallahanRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

These are non-standard setups.

Your only option will be to find a job to supplement your diminishing ability to sustain your standard of living.The income must last throughout your lifetime.