Remember that living in a growing city and providing affordable housing will attract potential renters.

Selling @ $500kLender providing $490kCan the remaining $10k be carried by seller?

I also like to make it a condition that the seller deliver a couple of days before closing an Estoppel Certificate from the tenant where the tenant confirms:  (a) true and accurate copy of the lease and all amendments thereto; (b) address/unit they are occupying; (c) statement that Landlord is not in default under the Lease: (d) statement that Tenant is not in default under the Lease; and (e) statement of monthly rent and remaining term.This protects the buyer in the event there has been a subsequent written or verbal amendment of the lease (that the seller does not disclose) and prevents the tenant from making statements to the buyer/new landlord that are different from the terms of the lease that was provided to the buyer from the seller.Vivian

@Melanie Hernandez two questions to ask are: can you effectively and profitably run a STR business giving your guests a wonderful experience and can you provide value to and mitigate risk for your property owner?

They can provide personalized advice and guidance tailored to your specific situation.

Lead Generation & Marketing: Do sponsors provide qualified leads or expect you to generate your own? 

I clean all shared areas of the home, cook occasional meals for guests, lawncare, maintenance, and shop for them (consistently provide milk, bread, basics etc)?

If possible, I may have the service provider sign-it as a "just in case".By the way, it was my CPA that provided both ideas to me :)

The initial investment is providing a loan, there is no tax write off.Similiarly, there is no income recorded when you receive the loan proceeds back.The only time there may be a potential write-off of the original loan amount is if the borrower is not able to pay it back.

Selling @ $500kLender providing $490kCan the remaining $10k be carried by seller?