.✔ Call the employer directly – If HR is off-limits, ask for a manager’s contact instead.✔ Stick to a Consistent Screening Process – Fair Housing laws require uniform screening criteria, so making an exception for one applicant could lead to discrimination claims.

I manage and own some STRs. 

@Bri Hall I am A managing partner at a company that facilitates full-scale flipping, lending, development and portfolio acquisition amongst other things.

The more deals you’re part of, the more you learn about:✅ Structuring deals✅ Managing risk✅ Negotiating with partners✅ Handling financingTaking part of a good deal helps you build real-world experience that will pay off big in the future when you do bigger and better deals.3.

My manager is largely responsible for that. 

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.

Hopefully we will be managing a handful of other STRs in the same market in the future.

My business partner is a regional VP for NARPM and I am happy to help if you need anything please reach outQuestions to Ask prospective management companies What are your average days on market for vacant homes?

@John Zhang If your wife qualifies for Real Estate Professional Status (REPS) and materially participates in managing rental properties, there is no limit on the amount of rental losses, including depreciation, that can offset your W-2 income.

And I certainly wouldn't have survived it with no investor losses, as I was able to do thanks to having a manageable portfolio at that time.All that is to say that I wouldn't change a thing.