The main purpose would be as last month rent in case they skip out.

If you rent longer than 30 days, you’ll skip a large portion of the taxes and fees levied on STRs. 

Would anyone have any interest in a monthly breakfast/coffee meetup for private lenders and those buying/investing in notes?

Just last week, Fibi had their all chapter mixer event for June, so the normal Long Beach group will skip this month, and resume next month.

On a side note, I personally skip all purchased warranties.

I took a tax sale attorney to breakfast and he told me all that I felt I needed to get started.

The short term rental is more aligned with my long term goals, but it is just skipping ahead by a few years and skipping over the 3 long term rentals I had Initially planned for my portfolio.Do I keep the property and maybe drop the rent under market value, while also coming about of pocket until we find new tenants, or sell and use the equity towards short term? 

It depends on how it’s approached and why.As a start, you can skip trace the property.

I, like many used to think “newbies” posted questions or asked for “help” to obtain the best advice from experienced investors, obtain guidance on strategic alternatives, or get a qualified opinion on whether the latest hot guru was worth the $40k price of admission.But, I was WRONG.No, none of those reasons are why newbies come to BP.They don’t want to find out that their “revelation” about how to invest has been tried about 10 million times - with limited successThey don’t want to learn that without capital, knowledge and experience their willingness to commit weekends is near uselessThey don’t want our opinion that they should skip trying to wholesale and spend some time learning as a licensed agentThey don’t want advice that has them taking classes at community colleges or learning real estate law, finance, or principles.So WHAT do they seek when they come to BPThey want comfort, encouragement. and to be told their thoughts are correct.

I am just asking that way because if the plan in it to refi with cash out after the repairs you might just consider skipping the business loan and just doing a cash out refi to fund the repairs.