Basically a 3 page excel spreadsheet that outlines the property details, as well as costs associated with purchasing and making ready for tenants, including adding bedrooms if at all possible, which is of course is Homeroom's specialty.

I give these threats no thought because 1) my actions are appropriate 2) i document well 3) they have yet to follow through with any of these lawsuits 4) typically their ignorance is apparent in what they are threatening to sue for. 

At this stage, the main thing we need is for me to get back into the workforce and get some money coming in, in order to achieve that dream.With that in mind, my immediate goal is to gain employment in the field of property management, as opposed to wasting my time working in another field that is not associated with real estate.

I used the standard Nevada Residential Lease Agreement from the Greater Las Vegas Association of Realtors.

Longer Tenure in HomesData from the National Association of Realtors (NAR) shows people are staying in their homes for a decade (see graph below):This increased tenure means homeowners benefit even more from home values growing over time.

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

However, I was unsure whether I needed to open a new bank to manage the finances associated with the property.

There are sometimes fees associated as well but they seem minimal and scale well since one line of credit can purchase multiple assets.Interested if anyone else is using this lending strategy and what your experiences/recommendations are.

That is not true.i also do not associate crime rate with cost of living and find it interesting that you do.  

In a 1031 exchange, you must reinvest all $450k and replace any associated debt to defer taxes fully.