@Aishan Gonaduwage what specifically have you read, and how OLD was it, about Detroit being on the decline?

It can help to ask them why they want the inspection and what specific concerns they might have.

CPAs often advise against pursuing this designation unless the time commitment and documentation are robust, as failing to qualify can result in IRS audits or penalties.The 500-hour rule pertains to material participation in specific real estate activities or businesses.

If there's any specific concerns I could address I would be happy to. 

I am just starting out with a STR and found that VRBO is not very specific if they are collecting the tax and paying it to the State as a marketplace facilitator or am I responsible for this tax collection and payment ?

The platform's main focus is processing mortgage documents in their raw form to extract specific financing terms for all properties in the city.

3) Any specific states you recommend to set up any of these (Not sure where I'll be purchasing property yet, maybe Detroit, maybe Cleavland, maybe Augusta, maybe Des Moines, maybe Saint Cloud, maybe Memphis...)4) I already have a LLC based in Hong Kong (We call them limited companies, but the principle is the same).

I'd estimate your cash flow after you pay the loan payment would be $600-$800, which a lender that understands investment real estate should give you some credit for on your DTI.As for a bank, I have a specific lender at NBI that I would recommend.

There are a lot of site-specific issues you need to investigate before deciding what the land is worth to you.

To find the best community bank, I would post in a local facebook group and ask which are the best local lenders to work with and ask for a specific contact.