Hey @Thanh Lu, we don't do much direct bookings but we do have a $500 security deposit.

This is primarily what makes their work product substantially lacking in correct English grammar, legal protections, timely professionalism and many other ways any Securities Attorney will point out to investors.

It shouldn't throw it off too much.

I believe the code says "if a veteran holds legal title to a property secured by a VA loan but does not possess equitable title, this situation is considered 'not a disposition."

But the bank still treats it as a secured debt.

So, even if the loan amount is the same, and even if the interest rate is the same, with the terms mirroring the underlying mortgage, the seller will have (1) recourse to foreclose if the buyer stops paying (2) with payments going directly to the seller who then sends payment to the underlying lender the seller will know if and when the buyer has not made a payment, in which case they can choose to make the underlying mortgage payment and proceed to foreclosure, (3) the seller’s legal position is enhanced since he holds a debt security interest in the property (4) the seller may be able to wrap a higher amount than the underlying note and or a higher interest rate and (5) the seller’s credit position may be enhanced since he has the asset of the wrap note offsetting the underlying debt.  

At the very least you'll always know where you stand in any given situation, something few investors are secure about.  

I liked the tenant, school is starting back etc, I told them they could pay first month and security deposit and I would let them have the rest of August for free.

Unfortunately, it's now going to get more complicated:(There are two types of approaches PMCs use to bill for maintenance:1) In-house ServiceTechs on the payroll, so owners are billed for their time by the hour.While the labor charges above are useful, they don't cover the true costs a PMC incurs, like:- Payroll costs for FICA, Social Security, Medicare, etc. that typically add 25-40% to the hourly rate- Medical insurance costs for the worker- Payroll processing costs to handle all of the above- Liability insurance costs in case worker damages something or injures someone- Workman's Compensation insurance- Costs of vehicles and tools- and more...Typically the management contract will disclose the total hourly rate an owner will be charged.

To throw a wrench into things, if we were talking about real property/structures that were being short term rented, it's possible/likely that your depreciation period would be 39 years, not 27.5.However, a vehicle - which is what an RV is, regardless of how you're using it - is 5 year property.