@Angelo Llamas If your cousin rents out the property, it becomes a rental once it's "placed in service," meaning available for rent, and he must report rental income and expenses on Schedule E.

Hi, I just started using BiggerPockets and am excited to learn about the community and all the resources available.

I am just starting out and have 1 STR.Would love hear the pros/cons that you took into consideration when deciding how you want to manage your STR.Self managing STR properties, from afar, while maintaining other employment, is only a possibility because of the new technology made available in the last 10 - 15 years.  

VRBO bookings in that 30-day window, I would then go live with my Airbnb listing, open out the calendar a little bit further so adequate availability shows, and take advantage of it’s first week or two?

Responding quickly, like you do, definitely makes guests feel valued and reassured.I think the choice between automation and personal interaction depends a lot on the host's availability and scale.

No financing available.2.

My next question is what kind of cash do you have available? 

Remember your situation is unique so it's important to consult with a tax advisor or CPA to explore all available options and ensure compliance with tax regulations.Thanks!

Quote from @Penny Wilkinson: How are appraisers approaching value on multi-family when there are extremely limited comps available?

Would you be available for a brief chat sometime next week?