The narrative that these are cash flowing properties is aggressively pushed by everyone who benefits from these transactions...turn key operators....brokers....pm's but its incredibly difficult for the non hands on buyers to operate these homes for a sustainable period of time.

The second company had a PM contract and due to other reasons we did not continue their services after a couple of months so tax stuff did not arise.

This means you need to pad your rehab costs, make sure you have trusted service providers that do great work, and when you run comps be sure to bring them down a bit and see if the deal still makes sense. 

Our experience is that many lenders/servicer customer representatives may not know the protections that exist for those that want to put asset protection steps in place. 

It may be more worthwhile to find someone who has reasonable fees for their service as my two cents.I hope this helps in some way! 

Hello all,Has anyone sold a short term rental owned over a year  as a non real estate professional that qualified as short term capital gains tax deductions with expenses and depreciation?

If you do not have (2) full years of 1099 you can still get approved for a mortgage using a Non/QM program like a "1 Year 1099" program or Bank statements.

Hey! I'm curious on what is the general consensus on leveraging conversational AI for outreaching to leads? There has been a ton of interest in the technology but I'm curious to know what are the thoughts from those w...

The only other fee we charge for this program is a flat $1,500 services fee.

Looking ahead, once you secure a tenant, perhaps this is something that should be explored to make the next lease up easier.Also, @Caria Mitchell raised an interesting point in saying: We are experiencing a shortage of qualified applicants, I’ve noticed non-conventional applicants vs qualified applicants that don’t have a voucher or some form of subsidy.