.• Both sales either meet the Eligibility Test or qualify forpartial tax benefits, as described earlier.Also, if your sale of vacant land meets all these requirements, you must treat that sale and the sale of your homeas a single transaction for tax purposes

It will result in lowering the occupancy rate of STRs statewide as it instantly raises the cost of the STR tenant by 15%.  

This will be at a higher rate than if you had long term tenants.

As long as it meets all the standard kinds of coverage, the lender shouldn't care either way.STR insurance usually FAR exceeds any kind of coverage that homeowners provides.Proper, CBIZ and Foremost are STR insurance providers.

Rent to tenants at - or very close to - market rates.

I recommend attending a few of those to meet others who are doing what you want to be doing!

Also, agree on how the property will be used, who can live there, and under what conditions.Contribution Reconciliation: Determine a process for handling situations where one party cannot meet their financial obligations or if there are significant discrepancies in contributions to expenses.Legal and Professional Fees: Decide how legal and other professional fees related to the purchase and management of the property will be shared.Taxes: How will the tax advantages be divided?

Hi Anna,If you're looking for the best rates & terms, it's best for you to build credit history and be the guarantor.

With a $5,950,000 asking price and only a 5.05% cap rate, after just calculating the value, the property is over priced by over $2 million!!!

Did you have to renovate it or did you find it ready to rent with those rates?