My purpose behind my decision to pursue REI is to gain financial freedom for wife and I, my future family as well as have the ability to make sure my parents are well taken care of once they reach the retirement age.If I had to label myself I’d want to be known as an open minded rental investor for all long term, mid term and short term investing, with the occasional flip for quicker capitol to put back into another rental.

Only by reviewing past buy/walk decisions and market decisions will I be able to hone my chops for future decisions.

Neither 1031 Capital Solutions or its representatives, nor DFPG Investments, Inc. provide tax or legal advice, as such advice can only be provided by a qualified tax or legal professional, who all investors should consult prior to making any investment decision.1031 Capital Solutions is a branch office of DFPG Investments, LLC.

So creating all these funky financials is great, but if you are using those in a presentation that information should be in the PPM or an official document as if someone is making a decision based on that - it can come back to bite them.

While a lot of STRs, and properties in general, can work as an MTR, really nailing down who you'd like to serve can absolutely help guide your purchase decision on your next property. 

I think this is the single most important part of the decision in order to set you up for success in passive rental property investing.

If the lender used your credit report as part of the decision, they should also include details about the credit reporting agency.It’s worth following up with the lender to formally request this denial letter and ensure they’re compliant.

Depending on how much you need to raise the rents to market, the other updates in the building that are needed, how quickly you can rent to market rents will all drive your decision.

You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck. 

This approach ensures you’re making decisions based on logic, not emotion.