Hi Account Closed,Purchasing a pre-construction condo in Miami for the purpose of short-term rentals (STR) is a lucrative one given Miami's unique position in the global real estate market.

We plan to use the home for short-term rentals—so safety is important.  

A few of the hotels there have where you buy/own the actual unit and you become part of the "rental pool" & get monthly dividends based on how well the hotel does..this one sounds similar.

I will only live in one of the units 4 out of the 12 months of the year because the other 8 months I will be with the Angels organization, during that period they provide a place for me to live and also food, so during those 8 months I would have more money I could save up and use in my house hack.

Hey Migeulli, Cleveland is a great choice for targeting section 8 rentals. 

I have been doing good at acquiring and managing rental properties so it does concern me this new adventure would limit my ability to grow even after having systems and processing in place.

The market will set the price for rentals if it is allowed to operate freely.

LLC orS-Corp.Don't be in the wrong type ofentityFirst – Asset protectionbenefitSecond – Tax savings benefit Rental Real Estate – 1031(same in LLC or personal name)Syndicate - 15% or more in taxsavings, self-employment tax (flippers may use this) Expenses for write off &deductions: equipment & appliances, home-office ($5 per sq ft.), travel costs (related tobusiness), kids (income shifting by payingthem to work for you, meaning business related), membership, conferences &education, meal expenses for business, retirement strategies (selfdirected investing, tax-free or tax deducted, 401K/IRA)depreciation Pro-active Planning / Get a taxadviser Talk to your tax adviser inadvance Fire OutOrganize expenses, listquestions, changes (buy, sell, etc. properties.)Changing entity type from LLC toS-Corp etc.

Attached single-family rentals are especially promising due to lower maintenance costs and higher rental yields.But now think of the families who wouldn't want to live in such conditions, I think there is a future, because demand is no where to be finishing

Given the block this was on which was primarily mix of decent homes and obvious rentals, and this home needed a few thousand in repairs prior to rent, I did not want to pay more than my max 76k offer.