But Lo and Behold, you will have state regulators and prosecutors, coming after you, painting you as a Devil incarnate to make some headlines and parade themselves as protectors of poor home owners, who are set up and guaranteed to lose their homes when they have no options to reinstate the loan a day before auction. 

I don’t have an STR myself but have helped a friend set up and manage a couple last year and it’s not as simple as it used to be. 

If your numbers are solid, you might even be able to cover the monthly payments out of the rehab budget.This kind of setup works best for properties that need significant rehab, and you need to be confident in your numbers and your ability to get the work done. 

We see a lot of our clients in Denver and Colorado Springs have success with either rent-by-the-room or some sort of basement apartment/ADU setup.

I have it all set up for a 1031 exchange and I am now under the 45 day countdown.

You may also want to get the fastest internet possible and to set up individual networks by the room.4.

The property is in a B-class neighborhood, and while I’m comfortable managing coliving setups, I’m curious about any potential nuances around refinancing and insurance for this type of property.Are there specific loan types or lending policies I should know when refinancing a rent-by-the-room property?

You’re building a thoughtful plan that’s set up for success.

I think there is so much value in having a supportive network, so I'm looking to set up a monthly lunch for us to exchange ideas, tips, and encouragement.

We have investors group set up.