It sounds like this is their personal residence.

@Sarah Hadassah Negrón so you get a money judgment.Now you have to turn that into a garnishment action with the courts.To do that, you typcially need to have the tenant personally served - which means finding them or hiring a skip-tracer to do so.Then, what are you going to garnish?

Personally I’ve got 1 tenant in my 8 unit building that occasionally complains that the water isn’t hot.

Hi Bruce, i'll start by saying i'm a mortgage person, so please understand the context in which my response is coming from. you'd need to create CC&Rs/bylaws and establish an HOA in order to do this.

You can establish a personal LLC and use it to buy a business.

we can do it not rented but rate will be significantly higher. easier and more cost effective to rent it. unless the bridge money needs to be paid back asap or you need the funds back to buy more, then a cost analysis needs to be done. personally id get it rented at market rent or a touch below if time is a factor. 

I had no idea what Ayn Rand was writing about was a REAL person: Frank Lloyd Wright.

I personally have found an abundance of deals where older landlords no longer wish to own but do not want to pay the capital gains tax. 

Hi @Chad MartinI am a skier and am interested in the idea of buying on/in mountain towns for personal use and short term rental.

We have $20K for immediate reno, and would continue in our unit over time.Parking: 2+ car garage (ideally 1 spot per unit)Personal taste: We gravitate to historical details (wood floor, built-ins, and curb appeal) and don't like flipped vibe, with LVP and grey paint.