It requires RIGOROUS adherence to the statutory requirements and also erring on the side of caution when in doubt. 

It's the bulk of our work on any lease, which is why we charge a large leasing fee.Lease renewal requires very little work, usually 1-2 hours.

You can pull equity out of property if it is free and clear but you still need to meet the lenders requirements for either DSCR or DTI. 

lately, I’ve been thinking about many different strategies regarding real estate.I originally did wholesaling for a few months but ended up stopping bc it just took up too much of my time especially with my full time job.second, I thought of having rentals but I was hesitant bc I live in NJ & the rental laws here aren’t the greatest and it’s hardly any deals that can justify for the rent to cover the mortage in this expensive market.Right now ive been thinking about possibly flipping properties in my own back yard NJ or possibly out of state where home prices are much lower in certain markets.Anyone have advice if I should possibly flip properties where I live in NJ (blue state) or possibly go into another market and flip virtually..?

The attached images show the attic's current condition.The room in the back is insulated and and would require finished flooring, heat, & paint (62 sqft above 7 ft height). 

I am considering $300 night rate with 60% occupancy which translates to $65k revenue per year from each A-frameAfter considering expenses $50k for each A-frame or $100k for 2 frames.I have some questions about this strategy:Did you try to get STR permit/construction permits in this area?

@Kayla Palmieri read the contract or have your buyer’s agent explain thoroughly as some inspection contingencies require a licensed home inspector actually inspect it, and some even require approx cost of repairs and if seller agrees to that amount then you cannot exit for inspection contingency.

I have done loans with hard money/private money shops, and the attorney wasn't that expensive.

The work here is minimal, but it does require someone to be available 24/7.Has anyone been able to successfully outsource this part of STR management?

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?