Do you plan on rehabbing it?

To find the plan that best suits your financial condition and investing goals, investigate both private money and house flipping choices.

We planned on using this as a STR and were expecting 50% occupancy.  

If you plan on buying in your entity I would set it up prior to seeking any type of pre approval for financing.

In my experience, short term rental managers charge the most, followed by room by room, followed by longer term management.There may be an opportunity for you to do this yourself if you plan to continue living in the home.

Did you tell the owners that you plan to not occupy the place?

However, I have an actionable plan set into place now, with the monetary means to set my plan into action.

I work for Global Realty Group LLC in Cibolo, we require it for our landlords and also like to be added to the tenants coverage plans as well.

Material Participation Activities:Property Maintenance: Engage in repairs or construction work on the property to maintain or enhance its condition.Contractor Management: Oversee the hiring and coordination of contractors or handymen for property-related tasks.Tenant Interaction: Communicate with tenants regarding lease agreements, inquiries, or property issues.Property Acquisition: Invest time in property search and evaluation processes, including visits to potential investment properties.Property Management Tasks: Perform activities typically handled by property management companies, such as rent collection or property inspections.Non-Qualifying Activities:Educational Pursuits: Time spent on real estate education or training programs does not count towards material participation.Investor Hours: Hours dedicated to investment analysis, financial planning, or portfolio management are not considered material participation.

This webinar will equip you with a powerful mindset shift and a plan of action to accomplish even the biggest of resolutions.