Another key change is making sure your contractor actually sticks to completion deadlines...why, because of how extremely tedious permit inspectors are getting in some cities, which can slow progress in and of itself.

Great hosts will be good neighbors, will contribute to local tourism and will pay their taxes and permit fees* A major area to improve on the proposal is the 1 hour time-limit for resolving complaints.

It sounds like you have an un-permitted unit, which is essentially always a risk since there has been no notice to the AHJ that it exists and they can therefore initiate a code case to have it removed in most cases.

Hi Lina from Texas-Congratulations on your interest in investing in mid-term rentals and you are wondering how and where to get started.I get this question frequently from investors.Sometimes and investor is looking to keep their property cashflow positive as insurance and taxes have squeezed cashflow by turning units into mid-term or short-term rentals.First off, ideally, the property will cashflow as a long-term rental should something disrupt the mid-term rental model.You will also want to have the property be near where there would be a demand for mid-term rentals (hospitals, universities, research centers).Monthly rents for mid-term rentals are about 20% (+/-) higher than unfurnished similar long-term rentals.There are property managers that will manage mid-term rentals for you and I always advise my clients to use property managers to keep their investment as passive as possible and for compliance issues related to Fair Housing Laws and local regulations.To Your Success!

And will you have ongoing maintenance issues beyond your CapEx based on the building's age.I personally would be suspect of this deal.

If so, I'd like to connect and get pricing for a couple of permits out here in FL.

She walked away with $1,500 in hand, and we salvaged the deal, netting $8,500 in the process.That deal reinforced two crucial lessons: first, title issues can create unexpected hurdles, even in straightforward transactions.

Secondary financing is generally permitted, and the realities of the marketplace usually require the seller to carry financing for most buyers.

I'm curious, have you run into any insurance issues? 

Fortunately, we have not had any issues on the property that were caused by any pet.