In addition to offering "cash for keys" assure them that they can use you as a referral on their next tenant application, or offer them a short term-2 month lease.

I want to share an experience ive had over the past few months with my newest multifamily purchase, and highlight the importance of being consistent, telling everybody what you do, and what you are looking for even when you dont feel ready.

I don't figure the note will be more than  300 a month at only 40k principal.

Hey, Jaycee, I've only been running it for a couple of months now since I closed but it's been doing about $6000/month in gross rents so far, this month will very likely be closer to $4500-ish since it's by far the worst month of the year for rentals in that area. 

I have had it rented out for longer than six months and I am looking to file taxes for the first time with an investment property in my name.Does anyone have any advice on filing my taxes this year?

The mortgage payment is $1,000 on each house, so you earn $500 per house or $2,000 monthly.

From my understanding, as long as you intend on doing a STR when you close, there are no rules against changing your strategy after closing, especially if you find that something else is more profitable.So in our case, the lender determined an STR would bring in ~$3500/month (with all of their conservative factors), but now that we operate it as a huge 3300 sqft Co-Living property, it actually brings in $7000/month.

Rent I could probably collect $2000 a month.

All situations are specific to individuals.Our best wishes and empathy go out to those LA individuals and communities.It’s been about 6 years since one of our storage locations was flooded for about 4 months.  2 feet over the roof.  

We host a free real estate meetup the first saturday of every month if you are interested in coming and meet some awesome real estate investors who are looking to do their first deal to savy seasoned investors.