You've got this...

Hi Irene,I had a client that did this with a home and a barndominium next door. 

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

We take ID's for all guests (in a website called Chekin) so would have documentation the booking guest is above 21.

The energy in the market is shifting, and we are anticipating that the January data reports, which will be released shortly, will reflect this momentum.The chart below shows the annual cycle of decreasing inventory in Q1 every year for the past 5 years.

Also look back on their application and see if you missed any 'red flags" so this can be a valuable learning experience for you.

Listening carefully and asking open-ended questions like “What’s most important to you in this deal?”

Let's break down a realistic timeline for building your REI business without burning out or risking your day job.  

Here is a newly created resource on BiggerPockets, which touches out cost segregation, accelerated depreciation, bonus depreciation, depreciation recapture, Real Estate Professional Status (REPS), STR Loophole / STR Strategy, example properties, and more. 

@Pamela Rivas Thanks for sharing this.