This is a common theme across the country with many municipalities enacting similar restrictions including where I am located in Philadelphia. 

We simply include the tax on the invoice sent to guests, which makes it easier to track and ensures we're covered for tax purposes at the end of the year.For Chicago, I’d recommend checking directly with the city’s tax office or a CPA, but generally, you’ll need to register with the city, collect the hotel tax from guests, and remit it on a regular schedule (likely monthly or quarterly).

Properties like the Michigan complex offer a unique entry point, combining cash flow and significant upside potential.Immediate Cash FlowThis particular property is projected to deliver 6% annual cash flow from day one, already exceeding the yield of Treasuries.Value-Add RenovationsThe property includes hundreds of units that can be upgraded to Class A finishes, justifying rent increases.

Here the explanation and benefits:A Bank Trust or Fideicomiso allows foreigners to acquire property within the restricted zone, which includes areas within 50 kilometers of the coastline or 100 kilometers of the borders.

Whether it's optimizing listings on OTAs, leveraging social media, running targeted ads, or using dynamic pricing tools—I'd love to hear what’s working for you.Some strategies I’ve been exploring include: Enhancing property listings with professional experience photography and compelling descriptions, leveraging Instagram and Facebook ads to attract more direct bookings, and utilizing email marketing to engage past guests.What’s been a game-changer for your vacation rental business?

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

Keep records of the payment timing to substantiate your reporting if needed.This post does not create a CPA-Client relationship.

While this can maximize leverage and ROI, challenges include getting lender approval for seller financing, high carrying costs, and the pressure of short-term loans.

Hello folks,When running BGC and other reports on potential tenants and having applicants pay for them, do you run them for all?

CostarRealPage - AxiometricsRedIQRentlytics Brad is a subscriber to CoStar so his students can get those reports when they are looking at a property.