The only thing I can suggest is to go and have a sit down with a couple of different management companies that specialize in managing vacation rentals and gather some information from them.There are a lot of vacation rentals in my area, but oddly, even though I know a lot of people active in several different areas of real estate, I don't know anyone who has vacation rentals (except for one friend with a B&B, and that's not really the same thing).The only thing I know about vacation rentals is that they are extemely management intensive and the management companies charge a substantial fee.You have turn over every week, and someone has to be there to clean, repair, asses damage, and inventory all the household items.

Now I know that putting a property into an LLC is generally touted as the best way to protect yourself, however I am wondering the following.If I transfer my owner occupied property into an LLC will that in any way negate the items I can deduct from my personal taxes?

I can't tell you how many newbie owners have hired us the day AFTER closing to manage their new property with NO documentation of these key items!

So, $160K sales price less these two items and the $112K payoff nets $26.2K.

According to this property, leaving a few items in the property doesn't make it "occupied".

It looks like our house is going to close, one or two items left on the inspection punch list.We'll be out of here on April 22nd and (depending on what time the movers finish up) in CO a day or two later.Typical ordeal of the crap with selling the house, inspections etc.I can't wait, although my bride will kill me if we get any "late" April snow this year.

Esp since it takes 3x the amount of work to get these done vs. a traditional listing.Any loss mitigator that says "You're willing to walk away from this over 1%" isn't thinking right. 1% sounds little.

These are the people that cannot qualify for traditional finance and the sub-prime meltdown has conveniently added thousands to that pool of buyers.Lease options have been around for years, the sandwich lease is a great way to generate cashflow from property only - it is NOT a buy/hold strategy.

Sure you have a CPA, lawyer, and other items, unless you are a CPA and a Lawyer and you make more money as property manager with both skills.

Traditional lenders don't care what ARV you are buying the house at.