All I wanted to do was collect that rent, and I would talk to the owner and relay their sad sob story that they told me and the owner was a nice guy and waived the late fee.  

Sadly it’s tough to make strong returns with STR in the northern half of the US.I tend to buy in the Southern half of the US for 2 reasons:1) you get much higher year-round occupancy rates in the South & it’s simply tough to earn a good ROI in the North if your place sits vacant for a big chunk of the year2) Culturally, the Southern half of the US seems to be a lot more accepting of STRs regulation-wise.

I'd be PISSED / SAD / PANICKING.  

@Jackie Botham  its sad really.. these are folks preying on folks that just don't know any better if you are in the business a little bit you will realize there are no such thing as loans at these terms at least as it relates to new real estate investors.. private lenders are those you eye ball and are your local business men.. professionals with some money to lend...

Anyway hope that helps.Yeah, sadly house hacking isn’t an option for me as we already own our “dram home” in a dream location so moving out and taking up residence in a duplex or 4 plex or whatever would make my wife MOST displeased.

Sad to say, but it is the opposite- If you signed the management agreement they made clients sign in mid-2022 you likely have a 60 day termination period.

That part is sad.

Even if you go to the local NMLS site to look them up, there's no way you would know they are fraudulent if he is up to date with his membership dues etc.Its sad how intricate these folks with dubious intents are in plotting their game..Thanks for the counsel.

Sadly the best way around this is purchasing larger buildings.

Sadly they still have not contacted me, even just to tell me that they will not make any offers.