If there’s a significant difference, it might justify the cost of adding more beds.For example, we manage a 4BD property where one bedroom is currently locked off, so it only sleeps 6 (1 king, 2 queen).

How long it takes to be financially ready is different for everyone.

My CPA was unsure... do you issue 1090-NEC for the difference between 1099-K and 1099-MISC or do you double up the income (i.e. 1099-NEC for gross rents from PM, 1099-K of the net owner distribution on 1099-K, then owner reports double income and puts a line item expense for the 1099-K since 1099-MISC covers gross rents).You need a new accountant lolPM issues 1099-MISC, not NEC for rental income paid to property owners.You would still issue the rental income paid to the owners regardless of the payment method.The Property Owners should add an expense line item on Schedule C stating that income reported twice on Form 1099 to offset any duplicated amount.

If meaningful appreciation is on the horizon, its a different story.If you were to go the financing route, blanket loan may be your best bet through small local bank or alternative lender.

I would highly recommend Realty One, the realtor Derek helped me solve all the major issues that came up and supported me in running the numbers for different properties.

you'd find those values a different way.Best of luck!

I would keep the deposit unless I am able to rebook the dates and then I would only make her pay the difference for any unbooked nights. 

Would you take a different approach?

Each deal is different of course.

.- Standardized Renovation Models: Establishing a clear scope of work for different property types can help manage costs and reduce unnecessary decisions.