Quote from @Divya Sosa: Hello,I had a unit up for rental (a townhome) and received an application from Zillow which showed that she has no criminal history and credit score was good as well.

It might be just me... but I don't think long term rental might be the move here. 

Also make sure to build on a property located in a desirable location with larger pop density and if holding for rentals, charge median rent for that market as lenders want to see a bigger pool of buyers/renters available to occupy/sell. 

Buying a large new build home can also work well as a house hack as you can charge a premium rent, and generally most bedrooms built now a days have en suites (at least in my market).  

@Yamil NafRaising $160,000 for your short-term rental (STR) venture is a great goal, and there are several ways to structure the deal to minimize your upfront costs while attracting investors.

Prospective investors should carefully consider investment objectives, risks, charges and expenses, and should consult with a tax or legal adviser before making any investment decision. 

Yeah the law changed I believe back in 2020.You cannot do short term rental with an HPR unless you own both sides.   

You could buy a turnkey rental there and do none of the work - look up MidSouth Homebuyers.

I'm confused why would you say that rental income is taxed in an IRA?

If said guru also has a relationship with an LLC creation company that over-charges by thousands of dollars, then it’s obvious why they tell you that you need one!