We mostly have doctors and nurses in rotation for weeks at a time at the Fort Worth home.It is DEFINITELY more work with STR’s but the hidden beauty behind those that nobody has seemed to touch on is that....People staying in STR’s don’t have a problem telling you if there is a problem.

You can see their instructions here:http://fortworthtexas.gov/propertymanagement/tax-foreclosed-FAQ.pdf

I learn well with direct instruction.

Due to issues with the lead contractors all the previously installed flooring in 188-2 need to come out because they didn’t read the instructions and used foam under the flooring which it specifically says not to.

Anyone appearing on the show has been contacted several weeks before, scheduled to be on the show, signed all the paperwork and has received their instructions on how to act, so it’s not like it’s spontaneous or real.

You can honor the existing leases if the terms are acceptable to you, but remember that the leases were between the tenants and the former owner, so if you choose to keep the existing leases, you should consider getting them to sign an addendum that you are the new owner with new payments instructions and that all the other terms will remain in effect until the expiration of the lease.

Also maybe: Mortgage, sewer, garbage, insurance, property taxes, security system, snow removal, maintenance, cap ex, local hotel tax & permits, site booking fees (airbnb, etc), cleanings (typically pass-through), property mgmt, supplies - it adds up - lotta hidden costs with STR!

@Steve VaughanYou have echoed the most overlooked item...PM's are at 15-20%...once you add in things like this plus hidden fees...10% is a fantasy....

A property mgt company would be a must for me in this scenario, but other than that I just cant find any hidden costs or risks.

My wife teaches business law at Cal State Northridge, and she explains how they have to instruct at the lowest common denominator which hurts the students with abilities.