., mortgage interest, taxes, repairs, depreciation) on Schedule E starting when the property is placed in service.

Taxes and requirements should be much lower for a LTR

I am in one of the higher tax brackets and could be saving around 40k~ a year on taxes with this.

I have two properties which at 10% fee will be around $35K.

Could VRBO users from Michigan provide some clarity about the topic of sales tax/lodging tax collection and payment to the state.

On your tax return you would report the proceeds, subtract costs and proceeds paid to seller, then the remaining profit would be your flat fee.

Somebody bought that house at Tax Sale.   

Quote from @Joshua Alcantara: Quote from @Peter Walther: I've found many properties with title issues wind up with unpaid property taxes so checking on delinquent taxes, tax deed sales and lands available for taxes might help you identify some.Thanks, Peter, for the info!

I set up tax lien as a keyword alert so I get alerted when someone mentions them.

Hey @Nick Gallon Martin, I recommend speaking to a Tax Planner/CPA, @Jeff Nash would be a great resource for you.