I have some auto-denials in the "review phase" based on landlord reference such as numerous late pays on rent, numerous documented lease violations, and move-out damages exceeded collected deposit... but still have yet to enter the "landlord reference/review phase" of my screening process due to the details on their CBR's as noted above. 

What I mean is that your deal has to be awesome for someone to be willing to front ALL the money - and for that service you will pay ”a pretty penny” as the phrase goes. 

I have been a superhost on Airbnb with my first rental property that I bought in Warwick back in November 2023 and am looking to network and connect with tax professionals in the Rhode Island area that can help me better understand our tax picture as it relates to our business and STRs in general.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

I do fortunately have room to absorb that loss, but with increased taxes, insurance, and maintenance/repairs starting to get reeeeally thin on the margins 😬

Other than perhaps property taxes, turnover is generally the biggest single operating expense you will endure as a buy-and-hold real estate investor.

Other options involve you getting stuck with his low basis and owing lots of taxes or him paying a lot of taxes.

I want to jump right in the multifamily property but there's not a deal in my opinion, then I was thinking buying a single family and rent it out (either 1 year after being a resident or pay 20% as DP) which I think there's a potential. 

They still collect my money and hold it to pay off the house that I don't know if it is done.     

Purchase price: $590,000 Cash invested: $180,000 Sale price: $1,350,000 At purchase the asset had 3 of 20 tenants paying rent for a total of $2,070.