Additionally, an LLC can make it easier to separate personal and business finances, simplifying tax filings.Quick Tip: Work with a tax advisor to determine whether an LLC is the right structure for your investments.4.

@Kenzer Hodgson For your STR, an umbrella policy can provide liability coverage, but an LLC offers additional asset protection by separating your personal and business assets, which can be valuable in case of lawsuits or audits.

Most lenders who order appraisals are required to order them through a 3rd party AMC, which can add additional costs to the appraisal but ensures that there is no lender (Or borrower) bias in regards to the values.

In addition we do not accept any applications for longer move in than the remainder of the current month and the next month (so if tenant is unable to move in by march 1, they cannot apply until feb 1 as we are unwilling to go longer than that without rent and will hold another open house).S8 needs to streamline their process if they want to increase their housing options.Best wishes

Letting someone out of the lease is not the same as nullifying that the lease ever occurred; it is just an agreement that you won't go after any additional months of future rents that would otherwise be owed.

Not a big fan of LTR furnished units, the additional wear and tear isnt worth it in my market and of course smoke smell can be hard to get out. 

They offer a $10K repair fund to fix damages in addition to SD plus warranty for appliance repair etc.I have no say in whom they choose to move in, whether there are animals, limit on # of occupants etc. they reserve right to inspect property so i have no idea if they can tell me to remodel, paint etc.does this make sense i have a vacancy coming up in October (bad rental timing).

Additionally if you find this post helpful please give it a vote on the right hand side of this post.

Thank you Eric.In addition to the rental properties, my wife and I have a paid off house, paid off car, and about $1.4m in retirement accounts, brokerages, and savings.We live in a HCOL area and our expenses are $9.5k per month even though we live pretty modestly.I set out initially to have real estate pay for at least some of my expenses in order to give me more freedom and financial security.Is your wife quitting too? 

Additionally, the price point is still cheap enough to find the 1% rule and positive cash flow and there's amazing appreciation potential.