They like to back out of deals when we have multiple people going in and out and legally allowed to deny us a walkthrough. 

Weeks later, it was communicated to us that the underwriter wouldn’t accept the ones signed by only one of us – legally binding for LLCs – and required we send amended copies of leases signed by both of us.

. ==== Projected Income ====**Off Season**-$4,000/Month Rent Period: September - May (7 Months) Projected Income: $28,000**Summer 1**-$8,000/Week Rent Period: June (4 Weeks)Projected Income: $32,000**Summer 2**-$8,500/WeekRent Period: July-September (12 Weeks) Projected Income: $102,000**Optional** (Basement Apartment)-$2,000/Month -Rent Period: Year Round Projected Income: $24,000TOTAL PROJECTED INCOME: $186,000 ==== Operating Cost ====-Mortgage: $84,000 ($7,000/Month) -Utilities: $36,200Gas $6,000 ($500/Month) Electricity $6,000 ($500/Month) Internet $2,400 ($200/Month) Garbage $5,000 (Estimate) Pool $4,000 ($250/Week)Landscaping: $4,000 -Mowing: $2,400 ($150/Week)  -Clean Ups: $1,600 (Spring & Fall)-Weekly Turnovers: $8,800 ($550/Week)==== Legal Cost ====Summer Rental Fee: $20,100 (15% of $134K)Sandwich Rental Tax: $6,855 (15% of $45,700) NET PROFFIT: $38,845.00

No legal jargon or last-minute surprises.Smaller credit unions are also worth exploring.

Purchase contract should show the entire legal as platted.

I love how Airbnb just pay me based on the evidence without going through 6 months legal battle or 3 years of collection hunting. 

@Steve CrispIf you meet the material participation guidelines and qualify for the short term rental loophole you should get a free cost segregation estimate to see how much you would benefit from the accelerated depreciation. 

NJ is very tenant friendly state on the legal side.

Quote from @Jeremy Jareckyj: Anything rented for longer than 30 days is legally considered a long-term rental.

These loans are for a minimum $100K to $1-1.5M (different loan guidelines depending on the max loan amount).