Achieving “work optional” status and creating a life with more freedom and flexibility.I’m excited to learn, share, and grow with all of you here at BiggerPockets.

Hopefully they will see you are not screwing around and will leave on their own.I hope you got a great deal on this property, because tenants in place are a liability, not an asset, in the Empire State.Now, who loves NY (besides our many "guests from out of town")?

This is especially important when owning rental properties or managing flips because it minimizes your personal liability.However, many people stop at forming an LLC without considering the potential tax benefits of electing S-Corp status.

For example, during a guest stay a furnished vase falls and breaks.

They do everything for you (payments, taxes, insurance coverage) - the website and app are easy and functional and you can vet your guests!

And don't forget to factor in design/furnishings into your budget keeping in mind your ideal guest avatar.    

Assuming you meet real estate professional status (which it seems like you do - you'll just want to have a time log verifying) AND materially participate in your rentals, you simply wouldn't get that big of a year one benefit. 

They only cover your events if you have 16 guests or fewer.

It's not like we have a gold standard any longer. 

., If there are any issues with tenants or house needs maintenance, Doorvest reaches out to us by email and Doorvest also has online platform where we can keep track of all the statuses + income/expenses.