If that was true would they have not gone down substantially when rates went up?

Offer is substantially above asking pricef3.

Here's my scenario.My husband & I are renovating a house that we own outright (approximate worth is 350k).....we are interested in taking money to finish the renovation & also we have an interest in buying another investment property.

Are you substantially better off if you proceed?

I found the county criteria which reads as:"Property must be minimum of 1 acre, meet the underlying zone district, have adequate parking, meet the requirements set for by the Wildfire Hazard Overlay District, have valid water and sanitation, have legal access, use the primary dwelling unit, be free of violations, and have no substantial detriment to the intent of the Zoning Resolution."

@Dustin Tucker I'm here in new york city , Owner financing isn't really accepted as much here , I'd be very interested in taking up that offer , send me a message I'll try to send you one as well and we can discuss further

This works because, for short-term rentals, the IRS rules allow income to be treated as non-passive if certain conditions are met, such as offering substantial services and meeting material participation tests.

If you aren't securing properties at a substantial discount, you may end up maximizing the LTV, resulting in higher interest rates.

It's not liked by most Building Departments because it puts substantially more occupants in a building and each with locked individual quarters and highly taken advantage by slumlords creating fire hazards.

The key factor is ensuring the property qualifies for favorable tax treatment by adhering to IRS rules regarding short-term rentals and material participation.For the 7-day rule, the IRS requires that:The average guest stay must be seven days or less for the property to qualify as a short-term rental.If the average stay is 30 days or less, you must provide substantial services similar to what hotels offer, such as daily cleaning or concierge services.Regarding material participation, to further classify the income as non-passive, you must meet one of the following criteria:You spend more than 500 hours actively managing the rental in a year.You manage the business yourself and spend at least 100 hours, with your involvement exceeding that of any other person involved in the rental.Please note there are actually 7 ways to qualify, the above two are the most common.