The only thing that makes these properties turn key is the fact they are move-in ready for a lower income tenant with low expectations.

That question depends on if you have enough other income to qualify.

If the property manager uses a payment app integrated with the property management software to collect rent for the landlord, this is not gross income for the property manager.

We are still seeing a majority of properties be cashflow positive from Day 1. 2) There is no state income tax in Tennessee!!

I have a w-2 income and own three properties, all long term rentals, that I've had for a few years.

All the other real estate in my businesses are counted as assets minus the debt liabilities for net worth purposes and the business income that comes to me is counted as part of my personal income.

You both have W2 jobs - so you're likely not a Real Estate Professionals - so these losses will be passed on until they can be deducted from other passive income in the future.

A recent article discusses how Bloomington is considering flexible zoning to support dorm-style units, aiming to provide housing solutions for residents earning 30% of the area median income (AMI). finance-commerce.comThe city has successfully added new rental units in the 50% and 60% AMI bands but faces challenges in creating units for the 30% AMI bracket due to financial constraints.

Co-living, on the other hand, mitigates this risk by creating multiple income streams.

.: Here's a good guide with links to the law: https://www.tenantresourcecenter.org/earnest_moneyIf you charge $25 and the credit screening costs $10, you can keep the $10 as income.