Later on, if you decide to open a business account, you can typically switch the account for your loan payments without any issues.

Many are also tired of homeless issues, politics, and now more than ever natural disasters. 

If you go with the partnership route1) You need to manage the money going in and out of the business bank account.2) File a partnership return and be responsible for issuing K-1's3) make distributions to you and your partner for cash flow that you receiveYou will likely spend many hours on a nice gesture.I may want to consider instead to give a christmas gift or a bonus for early completion of projects.

Spoiler alert- Phx is quite a saturated STR area, and many STR's (although some are doing great) are having major occupancy issues. 

But to sum up your truly relevant point, all you are really saying is that there is high default risk when you deal with people who have poor credit history or some other financial issues.

Waiting until the 1-year period ends avoids potential loan issues and simplifies things.

Since the original loan remains in the seller’s name, you may need a nominee interest allocation to deduct mortgage interest, as the Form 1098 will likely be issued to the seller.

Hello,I've had some issues with excessive costs through my property management company over the years. 

We rarely have issues, but it seems like such a small investment in time and money to take one day to verify. 

@Kayla Elliott  Hi Kayla - this was a commercial mortgage loan with a local bank, that held it "in house" after it was issued.