Originally posted by @Tin Lam:Dolores, You don't have to worry about buyer list.

Originally posted by Tin Lam:Jeff, if you read your mortgage note or if I'm correct you are allowed to transfer your name on title to a trust without the bank call the loan due.

I've looked at the Rubbermaids but they give me the feeling they'll last a couple years with the Texas sun and they aren't significantly cheaper than the stick and tin cousins.

They only want your EIN or TIN.   

I'm still somewhat confused what route to go if I pan on selling in 30 years.

I looked quickly through Airbnb and it looks like room rentals are going from $25 to $75 per night during peak season.I'm guessing that cash flow could look something likeMonthly CashflowRoom Rental ($500 per month * 3 rooms ) + Airbnb Room Rental ($50 per day * 20 days [subtracting days for flip days]) - Expenses ($1k) = $1500 + $1000 - $1000 = $1500Net Annual CashflowRoom Rental ($500 per month * 3 rooms *12 months) + Airbnb Room Rental ($50 per day * 180 days per year[6 month per year]) - (8.5% hotel tax + 1 sales tax) - $125 annual regisitration fee for home sharing + Using the Airbnb room as regular room rental for remainder of the year ($500 per month * 6 months) - Expenses ($1k * 12 months) = $18000 + $9000 - $855 - $125 + $3000 - $12k = $17020Start-Up CostsFurnishing common areas and Airbnb room plus purchasing pots, pans, utensils, garbage cans, etc - $5000Acquiring property with traditional financing - $30k or soI will kick the tires with lease optioning as a potential way of bringing down financing costsBreaking Even on Start-Up Costs$5000 to $35k initial start-up costsAssuming $500 per month lease option = ($5000 + 500)/1500 per month profit = 3.66 rounding up to 4 months to break evenTraditional financing = $35k/1500 = 23.33 months rounding up to 24 months or two years to break evenAssumptionsPhilly has a law that you can only rent on Airbnb for 6 months per yearI went with the higher purchase amount $150k but with the lower room rental range and middle Airbnb daily rateI'm assuming that the property will have 4 bedroomsIf my assumptions and numbers work than Philly definitely looks interesting as a vacation rental market.

I put them near the a/c pans, water heaters, laundry room if it's on second floor without a drain, etc. 

Nothing panned out yet, but I'll keep it simple - I'll drop it to $900 in the next few days and I'll have it up and running in a week.  

In fact, when I'm laying out a floor plan I have a little Altoids Tin full of various-sized rectangles cut from a sheet of cardboard (to an architectural scale) that I can easily rearrange and explore different layouts and spatial relationships.

If you continue to have a business relationship with them, you will need a social security, tin or EIN so that you may send them a 1099 for legitimacy for the IRS.