Doing short-term rentals would be very interesting.

The best amenities for Airbnb in terms of ROI often depend on your target audience and the location of your property.

Does anyone have an example of what a contract should look like and the details in the scope of work?

Rent payments from the medical LLC are fully deductible as a business expense, while the property-owning LLC will report the rent as taxable income, which can be offset by deductions for expenses like mortgage interest, property taxes, maintenance, and depreciation.To ensure compliance, document how FMV was determined—using market comparisons, an appraisal, or similar data—and draft a formal lease agreement outlining the terms, rent amount, and responsibilities.

They are hiring a PM to act as their landlord & to deal with the drama of tenants, the painstaking of marketing, the uncertainty of vetting the right tenant, the headache of a late-paying tenant, & the details of staying compliant with local & state laws.

How much will be the interest rate, and terms of the loan. 

We are out of state but would be open to working with someone local if they can offer favorable terms.2) Any local realtors you have worked with and been happy with?

So no Board, nothing to manage except State law...the organization docs for the HOA should have identified when the developer maintained control, the terms for it to be turned over and at turnover you would establish a legislative body which would be the Board...

You’d need a clear exit plan and enforceable lease terms to protect your investment.Think about the following:Tenant Risk – Can they truly recover financially, or will you face another eviction situation?

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!