Specifically, we’ll compare DSCR refinance loans to traditional options, namely bank or conventional loans.

Are there specific things I should watch out for when dealing with insurance companies in Florida?

cite=59.18Also, Seattle specifically has their own Just Cause Ordinance.  

Since I'm planning to do this from out of state, I'm uncertain if this is a wise decision, especially since it's my first time venturing into real estate.

Almost posted elsewhere but this is specific to STR so seemed appropriate.Thank you for your response.

Going from specific to vague and vice versa. 

Just ensure you’re entirely comfortable with the long-term commitment and the specific REITs you choose.

She is based in the Philippines and plans to stay in the property every 2-3 years for only a couple of weeks.

Let's break down the pros and cons of each approach:Forming an LLC in the State Where the Property is Located:Pros:Compliance with Local Laws: Establishing an LLC in the state where the property is situated ensures compliance with local regulations and laws specific to that jurisdiction.Legal Clarity: It provides clear legal jurisdiction and may simplify any legal proceedings related to the property in that state.Perception: Operating with a local LLC may give tenants and local authorities confidence in your commitment to the community.Cons:Additional Costs: Setting up and maintaining an LLC in another state means incurring additional registration fees, taxes, and possibly hiring local legal counsel.Administrative Burden: Managing multiple LLCs across different states adds complexity to your administrative workload, including extra paperwork and compliance requirements.Tax Implications: You may face tax obligations in both the state where the property is located and your home state, potentially leading to double taxation or complexities in tax filings.Managing Through Home State LLC:Pros:Simplified Management: Handling all properties under a single LLC streamlines administrative tasks, reducing paperwork and simplifying tax filings.Cost Savings: Avoiding the need to establish multiple LLCs in different states saves on registration fees, legal expenses, and ongoing maintenance costs.Consistency: Uniformity in management practices and legal structures may contribute to efficiency and ease of operation across your real estate portfolio.Cons:Legal Exposure: Operating out-of-state properties under a home state LLC may expose your personal assets to the laws and liabilities of the other state, potentially diminishing the liability protection the LLC offers.Compliance Challenges: You'll need to ensure your home state LLC meets the legal requirements for conducting business in other states, which could involve additional filings and fees.Perception and Credibility: Some tenants or local stakeholders may prefer dealing with a landlord who has a local presence, which could impact your reputation or relationships in the community.Ultimately, the decision depends on your specific circumstances, risk tolerance, and long-term goals.

I have been self-managing my other property for the past decade, with the caveat of it being 30 miles from where I live.Now, I plan to do so with this property, albeit from a distance of 200 odd miles.