Under federal law (ADA and FHA), true service animals and emotional support animals are exempt from pet fees, deposits, or rent, but the tenant must provide proper documentation if requested.

I also use their virtual credit cards which enables me to assign a card to a specific person, like the cleaner for my STR for example, so when she runs a charge, it automatically drops into the right account in terms of categorizing my expenses.

Overall, for every type of property....I would say that keeping up with proper maintenance is what most people neglect.

Thank you Brett, mainly for properly reading my inquiry and genuinely trying to help me.

Some will be ok in 2nd position and some will not and force you to refinance out the first - but those are options that are probably cheaper than credit cards 

However, it’s important to ensure that the deed is properly recorded with the county recorder’s office to make the transfer official.

It is nearly impossible to follow NYC's requirements and run a proper housing business.

Having reasonable expectations, hiring a local professional (Realtor or PM), doing your research, and doing everything right (i.e. pro photos, professional design, good renovation, proper amenities and location, etc) are the keys to success in 2025.

You will need an attorney to properly structure the partnership and you will make sure you do it correctly.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.