If convicted of bank fraud you may be facing large fines of up to $1,000,000 and/or imprisonment of up to thirty years.Posted without comment.Okay, so one comment:Just because someone in your community says it's okay to do, better clear it with the feds first, or you may be talking with them later..This reminds me of a Subto in California that went bad and wasn't handled correctly. 

I believe it's a great and thriving community with unique aspects that make it stand out from other markets in Texas. 

or options 3, 4 and 5 don't supply washer and dryers and either the tenant provides their own, rent appliances or goes to community laundramat.

I’m really rethinking this.There are no comps in the area to support his price but I’m sure it will appraise, usually it does.$275000 with 25% down, taxes $4080, insurance is 3000 yr and rents is $3800 month, Water $400 mth. 

Lol) to support or debunk my thesis, I came away with several neighborhoods in Ohio that will continue to grow for both appreciation and cash flow in the next 5 years.  

In the meantime we are talking to the property manager to find other STR's in the area so we can support a fair market STR rent. 

Hi Jon from Boyertown, PA-You and your fiancé are interested in buying your first short-term rental and wonder profitable areas to purchase with a budget up to $500,000.I would look at places along the west coast of Michigan, Grand Rapids, Kalamazoo, and near Ann Arbor, MI.It is important to understand the local STR regulations in each community and partner with a property management company that can help your navigate that and manage it well for an excellent guest experience.Don't forget to look into bonus depreciation and doing a cost segregation study to increase the tax benefits of ownership and if you "materially participate" in the management of the property per IRS guidelines it can offset active W-2 income which most real estate cannot.To Your Success!

Hey BiggerPockets community!

Let’s connect, and if there’s anything I can do to support you, just let me know!

.: In a prior post from about 2 months ago, Kerry Malarkey and Nathan Gesner mentioned a small landlord is exempt from FHA requirements requiring the acceptance of emotional support & assistance animals if one of the following is true:"Owner-occupied buildings Properties with four units or fewer that are owned and lived in by the ownerSingle-family homes Homes that are sold or rented without a broker by the owner, as long as the owner doesn't own more than three at once" (Quote from Nathan's reply))https://www.biggerpockets.com/forums/52/topics/1219359-pitbu...Given this, if a landlord does qualify for the exemption, what exactly does this mean?