REPS was actually an incentive purposely put in the law to encourage real estate economic activity.Regarding your question, it is my understanding you would not qualify for REPS, but if you have a more aggressive CPA, they might be willing to make the case.

As I find more data on each site, I will update it within the comment section, and I encourage others to share their journey as well!

However if you want to generate more cash flow putting 15% down will help you because not only is it a lower montly payment but when you hit 20% equity they will remove your PMI.If you put down 5% I would stronly encourage you living in the Airbnb if possible and renting out the home so you can generate even more incomeIf you look at it like this it'll helpMonthly payment < Potential income + current rentIf you can move and reduce your cost of living that is always great at the bare minimum they should equal each other in my opinion because at least you'll have equity if the market you are choosing is a strong equity market.

I am in NJ and we charge 1 month for a new tenant fee (1/2 month if it takes more than 30 days after listing property to getting the tenant into the property) we do NOT have a renewal fee for an existing tenant and encourage and work with the tenants to keep them happy and hope that they will renew and not cost our owners an empty unit nor missing any rent in between tenants.

I vividly recall calling you when you started and providing you with my direct cell phone number to encourage open communication.

I encourage people to invest either where they live, or within an hour or so, because there are so, so many threads on BP from folks who bought a random OOS property just to "get a deal" and immediately regretted it.

That model encourages PMs sign long-term leases.

I own 4 long term rentals in Memphis, and I've found it to be a great city to invest in, so I'd really encourage you to find some good properties and get into the game!

We are such a visual society and there is no going back on that.

Are there any brokers or agents out there who can give me some encouraging words?