They have processing fee, supplemental origination fee, underwriting fee, consultant fee, administration fee.I'm seeing 3k in fees.

Many landlords I know only inspect the premises at the beginning/end of the lease term. 2) Animals by their nature pose a big concern when it comes to landlord liability exposure.

We than supplement this strategy with pure properties to buy quicker.While these houses numbers don't work as well as pure investment properties.

The question is: do landlords have to issue 1099s since technically income derived is passive in nature (i.e. not an active trade or business)?

Cant they use those funds in the form of a balloon mortgage or something of that nature for a flip?     

Off the topic, what happens if a title company actually misses a lien or something of this nature.  

Branch of a Foreign Bank or Insurance CompanyInterestDividendsCapital Gains (Income Code 9)RoyaltiesReal Property Income and Natural Resources Royalties (Income Code 13)Pensions, Annuities, Insurance Premiums, and/or Alimony (Income Code 14)Scholarships and Fellowship Grants (Income Code 15)Pay for Personal Services PerformedPay for Independent Personal Services (Income Code 16)Pay for Dependent Personal Services (Income Code 17)Pay for Teaching (Income Code 18)Pay During Studying and Training (Income Code 19)Artists and Athletes (Income Code 20)Real Estate Investment Trust (REIT) and Other Trusts Distributions Subject to IRC section 1445 (Income Codes 24 and 25)Unsevered Growing Crops and Timber Distributions by a Trust Subject to IRC section 1445 (Income Code 26)Publicly Traded Partnership Distributions Subject to IRC section 1446 (Income Code 27)Gambling Winnings (Income Code 28)Notional Principal Contract Income (Income Code 32)Substitute Payment - OtherCapital Gains DistributionsOther Income (Income Code 50)

Hey BP,    The broker I am working on was kind enough to give me a salaried position as a property inspector as well to supplement my income as I build my real estate career.

In my opinion properties well suited for vacation rentals have:A great location for touristsNear outdoor / recreation destinations (beach's, ski resorts, etc.)Near nature (on a river, lake, ocean, etc.)Or perhaps a great location for business / corporate housing (Downtown, near major companies, etc.)Decent demand year-round (If it sits vacant 40 weeks out of the year you would be better off with a long-term tenant).Great amenities (WiFi, TV, Furnishings, Linens, Coffee, small appliances, etc.)Accept credit card paymentsPool / Hot Tub is a nice bonusOutdoor space at the property (Deck, balcony, patio, BBQ area, etc.)Pet friendly (not required, but will get you more interest)If your property seems to meet many of the above characteristics it is probably well-suited for a vacation rental.Some major differences you will need to figure out (compared to long-term)Who will do routine housekeepingHow will you get the guests moved in and out (lock box, in person, etc.)What laws govern your locationsWhat tax implications (bed tax, reporting, etc.) will you have to figure outHow much extra will you need to charge to make all the above worth it.

Within the next ten years I'm looking at buying as many properties as possible to use as rentals to supplement my retirement pay.