If you have a business entity(you want to properly track money going in / out from its owners).They will likely be classified as contributions / distributions.Best of luck!

I strongly advise anyone purchasing an old house to flip to ensure they have a clear understanding of the condition of the home's drainage system.

Our main goal is to ensure we’re properly protected.Additionally, should we allow pets in our STR?

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Obviously, if you are just looking for LTR's there is a bit less risk there.If you're going to do it, make sure to fully vet your team tooth and comb and ensure they have a reputation worth something to them.

Make sure your real estate agent isn't just about closing that one deal but understands the benefit of protecting you on each purchase to ensure that you keep buying because you are enjoying success.  2.

I would recommend anyone that gets started has at least a list of 10,000 to ensure they can get 1-2 deals that first month. 

Leverage technology early and put everything in the cloud, so you can access info wherever you are.Make sure to get properly licensed and obtain E&O Insurance.

Ensure you collect a proper security deposit (typically one month's rent in Florida) to cover potential damages.Your plan to increase rent next year makes sense given rising costs (taxes, insurance, and maintenance).

The best thing you can do is familiarize yourself with Housing Quality Standards (HQS) and ensure your property meets them before your initial inspection.