Additionally, I understand the risks associated with obtaining hard cash and working with hard money lenders, including higher interest rates due to the short term nature of the loan as well as the risk involved.

I found the son on Facebook and sent a quick intro giving my condolences, expressed my interest in purchasing the property, and provided my phone # in case he decides to follow up.I'm in the process of preapproval with a couple lenders, and have reached out to a couple realtors in my area to see which may be a good fit.

Renovating a 3-unit townhouse sounds like a great project.How’s the process going so far? 

Everything you describe though is just the normal process of how taxes are reassessed when a property is sold.  

Getting an LLC in place from the start can provide peace of mind and give you a chance to familiarize yourself with the process before expanding your portfolio.

With your background in lease management and site selection, that could be a natural next step.Regarding STRs, I can understand the hesitation—accurate expense tracking is critical, and not having that data can make evaluating deals frustrating.

We are in all of those markets you mentioned and can help streamline the process for you.You can also click on my website link in my bio to schedule a call! 

Over half of my clients are remote Buyers, so I've gone through the STR transition process with lots of investors over the past few years.

I'd really appreciate any insights or resources from those of you who have been through this process.

- Controlling costs for payroll processing, unemployment charges, workman's comp and liability insurance- Coordinating ServiceTech & tenant schedules for appointments--- There are several industry vendors that focus on just this!