When a tenant moves out, transfer the deposit back to Checking so it's ready to apply towards expenses or refund the Tenant.If you end up with excess funds in the Checking account, I recommend you transfer it to a third account designated explicitly for future investments.

These were investments, the value of the assest are there, its the liquid that ran short and had to resort to credit cards to fix up the propertyYou spent $50k from savings, borrowed $50k from a 401k, and are paying it back over five years at around 7.5% interest, then borrowed another $40k from credit cards and are paying that back at around 8% interest, maybe more.

.-- Starts picking back up end of February when this tenant pool starts getting their income tax refunds and aren't broke anymore.6) Section 8: where is the property being advertised?

Them physically moving out doesn't end the lease.

The IRS is taking a more conservative approach and you want to ensure you have all your ducks in a row + a team behind you to back you up if something comes into question.

Hi Mark, What did you end up doing?

It would never end.

Your LLC saves you absolutely nothing on taxes, unless you will end up making a killing on this deal or have other juicy deals - and that is a big IF.

Another struggle i have with STR is replacing small items continually which ties back to pricing.

You didn't mention where you are operating, but depending on average home prices, I think you'll be ok.For instance if we're talkin $500k homes, and if you will get a 2.5% commission, split that 50/50 with your Broker, you will end up with $6,250 per sale, right?