The upper level would be overflow capacity in the peak season and a 4-week or 12-week rental to digital nomads in the off-season.

------Each client started with a 5% down payment, was in the early 30s, and didn't make a six figure income.

As the other poster mentioned - make sure you set it up properlyIf you are looking for financing you will pay higher jnterest and higher down payment having it in a LLCMy recommendation to people is for their first few properties it may be worth putting in your own name and have an umbrella insurance policyIt depends on what assets you have.

I have saved enough for a down payment for a house and have a steady income coming in.

Personally, I'd prefer to use that money payment on a fix and flip, or for marketing expenses to find that next deal.So here's what my wife and I did.

Evolve has taking over tax reporting and payments as os 11/1/21 and as of today 11/29/21 have not communicated anything about this to me. 

Right now I have all expenses (utilities, material, labor, interest loan payments, insurance) posting to the WIP account. 

So lets say your payment to the loan is $300 every month.

Provided that the total rental period doesn't exceed 14 days and the rent charged is reasonable, your business is able to deduct the rent payment on the business tax return and you won't have to report this as income on your personal taxes!

They are qualified based on the properties income vs the payment.