That is an amazing return

I had an incident at a duplex recently and if it did not return lots of cash it could be a miserable situation.

Rates are a bit high at the moment but try to get something without a prepayment penalty and then refinance in a couple years when hopefully rates are lower.

Do we need to do anything to change it or can we just file a 1040 next year and claim it as a single-member LLC on our return?

When we did it, rates and prices were low enough (and rents were high enough) to still be in a cash flow positive position despite the higher mortgages. 

It's so unfriendly towards many local Vermonters who use STRs as a way to supplement their mortgage payments, since the state has high taxes across the board.

Also, there seems to be high risk of tornadoes/high winds - looked around for data.

I see many investors buy a $20k note and get hung up over the yield which the delta between say a 10 or 12% return is a few hundred dollars - waiting an extra six months to buy a loan costs you more…3.

Not a lot, but also our partners and mentors are highly qualified and we like to be hands on now as this is our full time job! 

Look at small multifamily homes with high rent potential and get a regular loan to skip PMI.