Ensure your records include details of any hired help and the tasks they performed.

Here's a bit of background:I have over ten years of experience in real estate.I've bought and sold hundreds of properties in the past two years.I have six performing rental properties and aim to expand this to 50 by the end of the year.

JD, I'd agree about cat pee.....it has something in it that will make you see Jesus, even with a respirator....But that house that had 9 dogs locked inside of it had this beautiful wide-plank flooring, Ponderosa Pine...unbelievably gorgrous.....I had it sanded once and got about 50% of the smell, twice, maybe 75 %....third time got 95%.Primer/paint did little.....finally had to have the walls and ceilings skim coated with new texture...throughout the entire almost 3000 SF house.

In the meantime, maybe look into refinancing options for the short-term rentals to access some equity, especially if they’re performing well.

For your property to perform well, I would want it to rent for around $1800 a month to cover expenses and provide some cash flow.

BUT, please be aware of the followingMissing interest payments on a promissory note is not necessarily the result of a fraud, most often it is simply the results of a poorly performing business.  

If someone wants to host MTR, STR, whatever, they should start their own management company, not try to use this model where they can make additional money off of an owner if a property performs well.

Purchase Another Investment Property and Utilize a Cost Segregation Study:When you reinvest in a new investment property, you can perform a cost segregation study to accelerate depreciation.

Just heard of this group today from Bryan Field. I am new to real estate and starting my journey to set up and build a real estate portfolio that I can pass on to my children. I am still in the beginning/research phas...

For DSCR, it's usually slightly higher than the conventional route due to it only looks how well the subject property rental performs + credit vs conventional where it requires credit, income, assets to be reviewed.