Greetings,My wife and I are just flirting with the idea of jumping into real estate investing.

Now that you have purchased your property, you may have to apply for your business license with the Commissioner of Revenue for a small fee and receive your business licensure checklist.

It's a big part of my lending business.

We created an umbrella structured an LLC with Anderson Business Advisors.

A STR can generate 3x or more than a LTR.Airdna can give you a rough estimate but you need to check similar houses on Vrbo and Airbnb to get the best idea of nightly rates and occupancy. 

I love the idea of BP.

You need to make sure the policy/coverage you get is designed for this use and not a standard homeownes policy.The Lawyer and the town can give you an idea of the Modifications you may be required to make due to:- ADA compliance- Fire Code Compliance- other Laws/Ordiances that may be triggered when you move away from a Residential to a Commercial exposure

Selling to another investor at a discount and walking away is an option if they want to avoid the headache of putting the work in.Wow that’s a good idea.

I am attracted to the idea of opening a modestly sized HELOC as a "just in case." 

So Monday morning I get the script I made together and I just go for it and ill admit cold calls are scary but never something I've been afraid of so after about 4 calls I get a guy who is interested in what I have to say and remember this is day two but I am able to get myself through the conversation ask him enough questions to have an idea of what he would be looking for and he was like all right. text me your name and number and let me know when you have some thing.