In Las Vegas they decided it has to be away form others, have sound monitoring equipment, ban parties, AND it has to be your primary home that you live in WHILE it’s rented out .

This agreement with your general contractor acts as a roadmap, with clear expectations and protection for all parties involved.One frequent mistake is the failure to include sufficient detail or being too vague.

I'm in a similar boat now.

Do you just suck up the cost if guests damage your property or throw a party? 

If it's just a two-family, or really with any amount of units, I would send the same notice to all parties so it's clear that it is addressed to everyone (even though it's because of one tenant).

The reason you see a person’s name and all their entities listed in a lawsuit is because Plaintiff (the suing party) attorneys have to list everyone and every entity that can be remotely tied to a cause of action, otherwise, if enough time passes and through the legal process discover that a separate entity or just a person was truly liable and they didn’t name them in the lawsuit, they are out of luck.

I dont screen but to be fair our properties dont attract parties.

I get an email alert each time a deposit is made.I prefer not to use any third-party vendors (Zelle, etc.) because firstly, that creates another link in the chain that can break down between the tenant's deposit and my bank account.

We're renting that out anyways but sincerely I missed the boat on starting with a multifamily home.

Use STR-specific insurance to protect both parties and automate operations with platforms like Airbnb, TurnoverBnB, and PriceLabs.Taxable income from the STR must be reported, but you can deduct related expenses like cleaning, utilities, and furnishings.