@Helen De la rosaWhat are your investment objectives?

Usually the depreciation is enough to shelter your income so that you pay little to no tax, at least on a new long term rental. 

But my short term rentals are for people working at a refinery, not people vacationing.My logic is this: most of the people I'm renting to are accustomed to getting screwed out of their money one way or the other. 

That's a long time, but what's the average DOM for similar properties in your market? 

As long as your applicant is approved through your housing authority to pay what you advertised your unit for and as long as you don’t broker a side deal after the HAP contract is signed for additional rent you are OK to proceed.

i would imagine it as a long process to obtain the lien certification from department of revenue.  

I do have liability umbrella insurance, but I want to set up a better business structure for long term growth the correct way.

Hi Sam, you may consider a fixed rate HELOAN as opposed to a variable rate HELOC if the funds are going to be for long term use, such as a down payment on a new property.

If you're looking to hold long term, and want to add value and cash flow, then I would consider adding the unit.It will take away some buyers, and you would need to work with your lender.

This is a long game that requires persistence.Make the money when you buy.