In addition to keeping doors and windows operational, requiring renters insurance, develop a standardized criteria that you will apply to all dogs/cats.

They should have contacts for service providers for you to interview.

**Additional Tips**: Any other advice or experiences from those who have successfully managed medium-term rentals would be invaluable.I want to ensure that my contract is clear, fair, and legally sound.

can you provide insight to your phrase "I've got a friend who owns a rental in the Raleigh, NC area that a company just pays him a check every month for the right to rent it out."

Can anyone provide advice and steps to moving this forward?

This may require providing extra documentation such as 12 months reserves, 12 months of mortgage payments for both the rental property and primary address.

Additionally, investing in opportunity zones, often found in these areas, offers great tax benefits.

Hi Gabriel..I've been in and around loans since 2003..we work closely with our lending partner that actually can provide HELOC or fixed second loan using a variety of income including bank statements..I think you can go up to 80%-85% on a primary using bank statement on a second lien position.

The info I've found online on FIRPTA is a bit unclear, so I'm hoping someone here at BP will provide some clarity. 

@Chris Rogers higher interest rates have caused most Class A property purchases to NOT cashflow for an approximate 3-5 years.So, many naive investors are chasing Class B, C & D properties to cashflow, WITHOUT fully understanding the scope of the additional risks involved:(Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.