Leave you with one last question: Does your reports from any software tie in to exactly your tax return? 

Hey @John FriendasI have purchased 4 of my Co-Living (rent by room) properties with DSCR, 1 of them within the last few months.Not that I necessarily recommend this, but there are short-term-rental DSCR products.

They are the last person who should know you are taking over a loan subject to, make sure you let the sellers know and are crystal clear.

This is how much you need to increase your room rate to become profitable based on last year's information.

In the last 2 months I was receiving a lot of deals in my email account and I received a "great deal" from a small wholesaler; 2 hours later the same property address showed up in an email from one of the "big wholesale companies" 10k dollars more expensive... the property was gone even before I could call the small wholesaler.I believe both are useful and all of us need to make a living, so I understand their role in this business.

@Cristen Marcotte Well, my last post doesn't help you much.

In the last few years, they've made illegal:-Rent controls of any kind-Limiting of fees or screening charges-The ability of HOAs to regulate STRs or LTRs in their neighborhoodThat's just the start.

Quote from @Gene D Stephens: Hi Chris,I'm relatively new here and was just wondering if you could expand on your last comment.  

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

The Austin metro was among the hottest destinations in the country for where people were moving last year, according to the latest annual ranking from U-Haul International Inc.Austin ranked No. 5 among the top U.S. growth metros in 2024, and Texas was the No. 2 state for move-ins — bested from the top spot after three consecutive years by South Carolina, according to data released Jan. 2 and Jan. 3.The Dallas-Fort Worth-Arlington area took the crown for the top growth metro in the recent list, followed by Charlotte, North Carolina (No. 2); Phoenix (No. 3); and, Lakeland, Florida (No. 4).