I used the equity in my previous vacation home for the down payment.

NEVER RENT TO SEX CRIMINAL. 

Rufo  Also consider the fact that when you switch from STR to LTR or the other way around, you will need your CPA/tax professional to do the IRS' 3115 change of accounting form to go from 39-year depreciation for STR to 27.5-year depreciation for a LTR.

When deciding between them, look for flexible memberships, no high-volume minimum, and customer service to help walk you through the process.

Someone in zoning should be able to help. 

You'll have to get a contract prepared by an attorney.

Happy to help if you are open to it. 

Purchase price: $390,000 Cash invested: $120,000 I purchased a four-plex for $390,000 where each unit was originally rented at $400 per month on a month-to-month basis.

I need you to find me an owner carry deal that cash flows a minimum of $500 per month with zero down, zero interest on the note, needs to have at least 20% equity from day one.

Have you been able to close some deals with them?