Use STR-specific insurance to protect both parties and automate operations with platforms like Airbnb, TurnoverBnB, and PriceLabs.Taxable income from the STR must be reported, but you can deduct related expenses like cleaning, utilities, and furnishings.

When you go to sell, Montvale requires a certificate of occupancy so this issue has to be resolved in advance of a sale.Although I am not a lender, I assume you will not be approved for an owner-occupied mortgage on 5-units if it is a legal 4-unit without some type of mortgage fraud whether in reported rents, units, or another legal document or representation (very very large issue from a legal perspective with multiple arrests in the last year for anyone playing fast and loose).As far as the DCA, I would recommend coordinating your work with the city with the DCA.

The first buyer walked after the inspection, not for one particular issue, but for the sum of all of them, inspection reported a lot of "beyond service life" items. 

View report*This link comes directly from our calculators, based on information input by the member who posted.I’m considering purchasing two investment condos to help pay for my children’s college tuition in 13 to 15 years.

View report*This link comes directly from our calculators, based on information input by the member who posted.Hello All, Please help me analyze this BRRRR deal and figuring out what's missing here.What are the holding costs based on?

@Kris Moulton Hey Kris, can you report on how it’s going now?

Figuring the seller was milking the property and doing minimal upkeep, the inspection team report has so far already helped me bring the seller down several 100K in asking price.

According to an annual report from the National Association of Realtors (NAR), 26% of buyers were able to buy without a mortgage (see graph below):Imagine buying your next house in cash.

From the reports I receive, the real estate investment market is poised to be very interesting. 

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