Also interested in any referrals to local title companies.

An STR property manager is going to take at least 25%, and any cash flow is gone at that point.At this point, a self-managed MTR makes more than an STR managed by a company.

The company I mentioned before (iMortgage) does $35K max VA renovation loans that can be used for any kind of renovation, similar to the FHA 203K Streamlined loan.This means the only base I haven't covered is a renovation loan that allows for more than $35K (not new construction), similar to the Full FHA 203K loan and the conventional Fannie Mae Homestyle renovation loan.It took looking around a lot to find just the two I've found so far, so it's hard, but not impossible to find lenders.  

I'm not suggesting he would defraud other investors in other deals, but pay out of his profit portion, plus may have other income from AM or PM from other deals.Option 1 is take the full $ loss on the K1.Option 2 is take a promissory note for the full amount, payable from future company profits on his other deals. 

As I tell a lot of my out of state real estate clients who invest in Columbus Ohio - you should only buy in real estate markets where the population is growing, companies are moving, and there's tons of appreciation potential! 

As the new owner, list the property pay off existing mortgage, second mortgage and recoup the proceeds My question is, would this be considered a novation and would an attorney or title company draw something  like this up?

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

Market Selection Criteria: To choose the right market, consider factors such as:Economic Growth: Look for markets with strong job growth, a diverse economy, and increasing population.Rental Demand: Identify areas with high demand for rentals, which can be indicated by low vacancy rates and high rent-to-price ratios.Affordability: Ensure the market offers properties within your budget that also meet your cash flow and appreciation goals.Property Management Quality: Verify that there are reliable property management companies in the area to handle day-to-day operations, especially if you are investing from a distance.Comparative Market Analysis: Perform a comparative market analysis to compare potential markets.

knowingly not having it under contract.Instructing investors to set up fake ‘tax relief’ companies In order to intentionally & maliciously misrepresent themselves to tax delinquent distressed homeowners.

- If you have a property management company handle your STR, then good news is you don't need to have an operators permit as you can use the one they have applied and paid for.