Despite the previous owner raising rents last month, she is still falling short by $5,000 each month.

Joshua Tree is a bit of a tough market as there are a lot of STRs in the area.Be prepared that your first year might be a little thin as you are new and need to build up some reviews to get rolling.The interior is a bit of a toss up.

Quote from @Steve Wortman: Currently the owner operator of a motel.

Very little too almost nothing because look at there life.

Just like the asking price, just because the owner suggests one interest rate or term doesn't mean you can't offer something different. 

Preforeclosure owner finance wrap, paid off the default payments and taxes with cash and assumed the owners loan.

I primarily invest in buy and holds, but I do a little bit of everything including fix and flips, airbnb's, mid-term rentals, and wholesaling.

Remember years ago an owner didn't like our pricing, so found their own reject of CL.

:)As for LTR rental terms, usually we sign a 1 year lease where tenants are expected to pay Electric and Gas if applicable, while the owner typically pays water/sewer/trash with the city. 

Quote from @Scott Hertzog: Hey everyone,I am coming into this game a little later in life.