Our cleaning fees for the year were $40k, landscaping $2.5k, handyman $3k... all tasks that can be done by an operator and off set the loss of income from occupying the main house that brought in about $40k for 2024.My wife and I have decided that even though it makes good money, we have been in Texas for a year and we want to do something similar here and we are very much DIY people and don't want a PM company to run it to the ground.

Never had an issue in 5 years of this when tenants have moved out I just send my house cleaner in for a deep clean NO turn over costs other than that.

She was paying on time and left the place clean.

May check out some properties there in a couple of weeks(Dewey and electric ave and Lexington and lake).

So bottom line they got away with it and are living in a beautiful safe clean country. 

We are currently looking at a HUD home in Georgia - I have a couple of questions and can’t seem to find a definitive answer - The home is currently in the OO listing period - our plan would be to buy the home doing extensive renovations (the home is in a “Historical” area so renovations have to be approved) once completed we plan on living there full time - it could take ip to a year to complete or longer I don’t know  - as I see it the OO designation is to be the OO for a min of 12 months - is this after the home has been renovated or after you close on the home - though the house could probably technically be lived in now it does have some water and roof damage and needs complete redo of electrical and plumbing - for me to deem it safe - so not really livable by normal standards - but no way it would be livable in just a couple of months - any thoughts or an actual answer to the OO rules 

Spending more than 100 hours and more than anyone else, or substantially all the time in the business.So if you own an STR and meet the test, you can set up a tax deduction machine.Some issues -- You have to count your time, and the time other people work in the biz (cleaning, maintenance, etc..)- If use the property more than 15 days or 10% of the time it becomes a residenceI suspect this is part of why the STR trend has picked up so greatly amongst professionals working in tech.

That teaches the occupants that they aren't 100% responsible for cleaning up after themselves.

Purchase price: $55,000 Cash invested: $110,000 Sale price: $205,000 This was a 1950 raised home that needed extensive foundation repairs as well as all plumbing, electrical and subflooring.

New HVAC, plumbing, electrical, floors, kitchen, baths & added a deck.