I think he trues up the costs at any of the following: annually, tenant exit, tenant requested.For our units we simply notify the perspective tenants at move-in what percentage of the water they will be paying. 

As we know, newbies ask questions to learn about STR here and to hear different perspectives.

But a perspective to also look at is you need as many landlords and or flippers as possible. why?

Let me know how it goes with your case, really want to get some perspective on what to expect.

From the tenant's perspective, it probably seems ridiculous to provide one after 12 years of lease payments.

Lender C said I would not be able to close it with a fresh new LLC because that LLC wouldn’t have had any performance to show or tax returns to present during underwriting, and the way that most of her borrowers go is to close with their name first and within an hour of the closing, create the LLC with the help of an attorney and transfer title right away (not sure if this is even possible!).

Just make sure whoever you're buying your list from is providing you with a solid, fresh list because the best piece of DM is worthless if I goes to a bad list. 

Hey Rachel, I'm not an agent but I can help in one of two ways:a) Give you some advice from the perspective of someone who owns 10 properties in Detroit and lives here locally.b) Connect you with an agent or two that I respect.Some quick advice: You do NOT want a house for $20,000 with at tenant in it.

-A little more management from a cleaning/ turnover perspective.

There are properties that work well on a spreadsheet, but from a management perspective do not make sense.