I would like to expand a bit and put some systems and processes in place and generally get a little more serious when it comes to the management side.In Brandon Turner's Book- The Book on Managing Rental Properties, in chapter 3 he talks about creating a company policy binder.

You'll want to print and save the SS-4 Letter that you'll have the chance to download at the end of that process.

This California law eliminates much of the red tape by bypassing environmental reviews and subjective local approvals, creating a faster and more predictable development process.

That's an average of 17% annually over that time.The City of Detroit has not only outperformed every city in the Metro Detroit area, its outperformed every city in the USA from 2014-2024:Let that sink in for a minute ... you'll probably need more time than that to process this!

How often, and what does that process look like?

Here’s what I know so far:My father-in-law is offering to finance the property purchase, but I’m still clarifying whether that means 100% financing or if he expects a down payment.We haven't yet decided whether to purchase as individuals or through an LLC.I’m also in the process of discussing the specific terms with him (monthly payments, amortization, balloon payment, etc.).Could you share any advice or insights on what deal structure might work best in a scenario like this?

Looking to hear from investors, business owners, and anyone who’s navigated this process successfully!

We've done demos with all of the big name PMS options and are finding big gaps with all of them, mostly when it comes to payment processing.

We have helped a ton of clients with the process here in Chicago..just be sure to find a team (Agent, Lender, HUD Consultant, and General Contractor) that has done these renovation loans in the past!

How does the Airbnb licensing process work in your area?