REPS is tough to qualify for if you have a full time W-2-paying job or company outside of real estate.If you get trapped with PALs, consider utilizing 1231 gain in conjunction with long term rentals.Current year deductions are only great if you can use them now! 

First STR guest has booked for the last week of 2022, so we'll be able to place the asset into service for 2022. 

Hello,My name is LeoOne of my investor friend has an issue with his rental property (2 story townhome with HOA)What was happened to him and the unit is1) the drain pipe on 2nd floor bathroom was broken2) water leaked in the 1st floor ceiling and walls3) in contractors opinion, this problem was caused by just normal wear and tear (already 40 year building)4) Those pipes are not shared wish other units (service the unit only) and HOA won't do anything or take care of it. 5) it will take 1-2 months for everything to be fixed up6) Tenant will need to evacuate to a hotel or shelter I have two questions,#1 In this case, whose insurance should cover the fee of tenant's hotel while the damages are fixed up? 

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

To me better than having a full time neighbor.Maybe that is a demand driver. 

My investors don't want to live with their tenants and be constantly available for questions, complaints and service 24/7. 

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

I have a tenant (been here for 18 months), the last 4 months I have served 3 day notices, she always pays in full when she gets the notice.

Other hidden costs you need to consider when evaluating HM lenders:-Applications Fees-Administrative Fees,-Commitment Fees-Underwriting Fees-Origination Fees-Loan Servicing-Rehab Draw Fees-Inspection Fees-Interest paid on undrawn rehab budget?

A $150 rate is not cheap after adding on a $160 cleaning fee and 10-20% platform fee.Vacationers like full upfront disclosure of costs vs having to muddle thru discovering all extra fees and charges.