They don't communicate well, don't take responsibility for their actions, do not clean or maintain homes well, and will shaft you when it's time to leave.Other than that, it's a pretty good system.

Utilizing a wrap he has a mortgage note as an asset to offset the mortgage he’s still responsible for on the property.  

Thanks for the response, were open to other options as well.

Thank you all for your responses!

The THING they seem to not be taking into account is that the sponsor is responsible for one half of any losses.  

Happy to answer any questions.Hi @Jaycee Greene, thanks for your response. 

I'm lucky to have a motivated client/investor that wants to work with me, and I feel a tremendous amount of responsibility to take care of that trust and investment.

It is also worth noting that property management is often closer to 30% of gross rent for a short-term rental due to the much more intensive hands-on management compared to a typical 10% for long-term and as such, I agree with recommendations above that medium term rentals may provide the best of both worlds if you are able to tailor proximity to a local need, e.g. hospitals and travel nurses.Again, happy to relay my personal experiences in the area if you're interested.Best of luck,Patrick Patrick, Thanks so much for the response that is great to know about the different zoning requirements for short-term rental in Nashville.

In hindsight, they gave loans to people who were terrible tenants, who weren't going to change just because they now owned a house.In response to the Great Recession, higher lending criteria was forced on the industry by the government.

I appreciate the responses from both of you guys.