Hosts can get involved by either donating a portion of rents from their payouts or they can offer housing at a discounted rate.

Our current tech stack is a mix of Buildium (very clunky), Breezeway (great, but limited without a PMS), Xero and Google Suite tools with lots of spreadsheets involved.

Birmingham’s market is diverse, with various areas offering different levels of potential and risk, so getting boots on the ground can be one of the best investments you make in terms of time and money.I’d be happy to connect and share more about what I’ve learned from my experience managing properties in this market. 

If you spend the entire $300k restoring the property, then here is the end result:- deductible casualty loss of $50k- no current tax- the restored property has $0 basis and cannot be depreciated- when it is later sold, the entire sale price is taxableMechanics and reporting are tricky, and I would not recommend to DIY it, especially since my scenario is over-simplified, and your real scenario is likely to involve more gotchas.Thanks so much. 

My latest blog - linked here  "UNDERSTANDING FLORIDA'S EVICTION PROCESS AND LAWS"  provides a comprehensive guide to understanding the legal requirements, timelines, and steps involved with Evictions in Florida.

I'm interested in running the business without being involved in the daily operations of the facility after the first year.

But now you have a challenge of documenting both your time AND time of everybody else involved with the property.Now, to answer your question - is it possible from out of state?

there is no bank, no mortgage, and therefore no due on sale clause.if there is a mortgage in place, and you take the payments over, this is typically referred to as subject-to or sub2 and is much higher risk for everyone involved.

I recently moved to the DFW area and want to get involved in real estate in the near future (looking to buy a property in the next 6 months to a year).

I am guessing a few will say to have my lawyer do it, but the other LLC was so seamless that it seemed superfluous to have someone get involved.