Hi everyone, if you're an STR owner in Vermont or looking to buy one in Vermont, I wanted to share that the state's Ways and Means Committee is considering imposing a new 10% tax that would be on top of the tourist ro...

I would recommend having a solid proposal to present to a hard money lender.

If we propose a date at least a couple weeks in advance I would likely be able to block off the time before any lessons get scheduled.  

Many landlords opt for modest rent decreases or propose multi-year leases with slight increases over the extended term to provide stability for both parties.

Any other cost-effective strategies I could propose to the seller?

When dealing with a contractor ask for their proposal and scope of work don't ever work without a scope of work. 

At the state level a law was proposed to place additional 15% tax (on top of local occupancy tax) on STRs.  

Please let me know: 1. your opinion of my proposed schedule, 2. your experience with HML and SOW, and 3. most importantly the changes you would make to my schedule:SOW: Initial down payment of $1000 or 10% (whichever is lower)Demo, order and pay for materials needed for items to be completed before the first drawDraw 1: Foundation, Ext framing, mold, pest, trees, septicDraw 2: Roof, waterproofing, int framing, siding/brick repair, ext HVACDraw 3: gutters, concrete, plumbing, subfloor, ext electrical, ext trim, sheetrock, insulation, int HVAC, windows (I was told these take a while to get delivered but my thought is is framing, ext repair/trim are complete these would be a good time for them?)

The ordinance may require a permit to be obtained for the creation of a junior accessory dwelling unit, and shall do all of the following:(1) Limit the number of junior accessory dwelling units to one per residential lot zoned for single-family residences with a single-family residence built, or proposed to be built, on the lot.(2) Require owner-occupancy in the single-family residence in which the junior accessory dwelling unit will be permitted.

. $300K as I put a hefty amount down through that 1031 exchange).Current offer on the table proposed by my broker:$600K Purchase price7 year lease with option to purchase within 3 years for an amount equal to $600K less what they would have otherwise paid in principal under under a 7% loan for the same period).