Short term rentals do get more money, but also cost more to run and require more time.  

Start small, ensure your numbers (purchase + rehab + holding + selling costs) leave room for profit, and build a reliable team (contractor, agent, lender).For financing, work with lenders who specialize in fix-and-flips. 

The two deals with friends both ended poorly with friendships ruined and tens of thousands in legal fees and court costs.

Extra 4 months of carrying costs are up most of the margin.

Also, managing the property as a rental could offer tax benefits.When purchasing, keep in mind condo association fees and maintenance costs.

Cost vs.

If rates dropped 1-2% on a $600,000 home, it would cost a buyer $3,400 a month.

This is my personal opinion, which probably won't be popular.If you are worried about the cost of hiring an attorney to create a proper operating agreement for your LLC, you probably don't need an LLC, and if you choose to use an online site to create an LLC, you probably get the protection you paid for.

(Launch Control allows you to send follow ups after 30 days and costs a bunch to get additional market phone number)But wanted to ask anyone who has used Smarter Contact:- If you disabled the opt-out msg for your SMS, did any of your messages get blocked by the carrier?

The carrying costs are low, but tenant was making partial payments by month 2.