Tell them that although you know that it is unnecessary, the lawyer is insisting on sending the quit or pay notice.

Seems like a unnecessary hassle.

I greatly appreciate you being able to read through all the unnecessary postings and heard my question as it was.  

We have contacted an attorney, which in my opinion is so unnecessary.

I've used this to add rent for extra animals brought into the house, charge tenants for damage, talking tenants down when they want me to pay for a plumbing bill that they called in & didn't tell me about until they presented the bill to me, tenants asking for upgrades or unnecessary items, etc, etc.

This can be handled with a simple discussion or phone call.If you have a market rate tenant I see no need to put unnecessary pressure and potentially lose rent.

I don't say this to steer you completely away but I feel personally that it's just a unnecessary headache and with the upfront costs for STR's, I don't feel personally it's worth it.

Not many are IRAs are audited thus there is not much precedence- why introduce unnecessary risk. 

Often higher.I've seen Brandon and others shoot for 12% as a passive investor, but I think that's high in reality.YOUR passive COC returns will be reduced by: Mgt fee 1.2% (10%), high and often unnecessary repair costs + overrides (sending out an HVAC or appliance guy to a unit that only needed a breaker flipped because the PM didn't whittle down "my stove is broke" first on the phone) 1%, higher vacancy rates from slower turnover + vacancy-fill fees, higher cleaning & repair costs + overrides again 2%. 12% COC - 1.2% - 1% - 2% = 7.8%.  

I doubt it would happen much but it's still an unnecessary worry.So I'm guessing a FHA 203k loan would not work in this situation?