Quote from @Chris Seveney: Quote from @Bruce Woodruff: I would have handled it pretty much exactly as you did, Chris.

Due to high demand, many investors in Austin are finding they need to adjust their approach a bit to make the numbers work.Rehab Budget: Ensure that bids are received from multiple contractors and that adequate reserves are made for cost overruns.

What did you learn from that experience?

Quote from @Jaycee Greene: Hey @Nickolas Lipinski.

Quote from @Paul B.: Hello,I started a Nevada LLC with the goal of enhanced privacy.

Fellow Community: I am excited to join this platform and learn from like-minded individuals about the real estate space, especially STR, MTR, and long term including section 8.  

Quote from @Kylie A.: Quote from @Simon W.: Quote from @Kylie A.: I've never hired an EA or CPA before and need advice on vetting them to avoid being taken advantage of.

Sorry to be bearer of bad news but your best bet is to just get it resolved and take it as a lesson learned

This is my due diligence. 

One thing I would mention though - doing STR just to save taxes often leaves you operationally unstable or too detached from the management to be successful.