Quote from @Liam Alvarez: Hello everyone,I’m considering investing in a short-term rental property in Gulf Shores, Alabama and wanted to reach out to the community here for some insights and feedback on the market.

If your DSCR has a prepayment penalty, you'd need to make sure you account for that penalty in the sales price to offset it. 

Do we get an attorney to write this up for us?

Hi Foley, welcome to BP. 

I recommend that you learn the tax code and take ownership over your strategy.Not having some foundational knowledge and an opinion on how to approach taxes as a business owner is a huge mistake.In my experience, every single business owner who says "I just let my CPA worry about it and I focus on my business" is doing a suboptimal job at tax planning.They are likely missing out on 10s or hundreds of thousands in saved dollars every year.Stop making excuses and get to work.Just a few months of part-time learning about taxes will pay you for the rest of your career.

I signed up for the course to expand my local network.

That could mean poor tenant quality, which could lead to them not paying or eviction.

Very excited and eager to learn.

Currently, I live in Hawaii, house hacking my own property, and am looking to expand into out-of-state long-term rentals.My goals now are to master the art of wholesaling, continue raising private money, and build a strong portfolio of long-term rentals.

But feel free to keep making more for PHX because I'm not biased or anything haha.