If you live in it at least 2 years, you have the option to sell within 3 years after move out and not pay capitol gains taxes on up to $250k in profit as a single person.

Hi AllThank you in advance for your time + help.I am wondering what kind of arrangement you all have with your local person who stops by the residence in case of problems.

*This post does not create an attorney-client or CPA-client relationship. 

I imagine there are a lot of 3/2 that probably sleep 8-10 and if you can offer a slightly larger bed count and a cool game room/theme room you can differentiate yourself a bit from your competition and get some extra revenue through slightly higher rate (extra person fees, etc) as well as an overall higher occupancy. 

Can a person own two homes with two VA loans and refinance one of the homes  into a conventional loan freeing up some of the entitlement which would enable you to buy a 3rd home under the VA loan?

Personally, I would be hesitant to jump into a deal when the existing partners are cash-strapped.

Most likely the state where the property is located is where lawsuits would be brought if they are something for personal injury like a trip and fall or something of that nature because the “cause of action” arose in that state.

One tenant however, did refer to having their rent pro-rated by the number of days that the situation would last.There is a clause in both their leases that they are responsible to carry renters insurance to protect their personal belongings against fire, theft, flood, loss of use etc. 

You can still find deals via referrals or pocket listings which are cheaper but you will spend more time to build the connections and relationships.

I have used this strategy personally more that 10 times and helped many clients doing it.