I have nothing bad to say about them since I haven't worked directly with them and they must be doing something right if they are one of the biggest ones in the area.

Banks aren't really in the business of lending to real estate investors anyway...they focus primarily on "operating entities", but they can be done.

Get it all in writing to keep things smooth.

But, if you pay utilities, it might make sense to add a bit for the extra water / electricity.Personally, I would use this as an opportunity to tear up that 3 year lease. 

Quote from @Steve Tse: Hi BP, What insurance carriers can you recommend in Texas, as I am shopping around to replace my landlords policy that I currently have with Travelers ?

We purchased a property in early October and are placing it in service this week (mid November).We had intended to run a cost segregation study and try to accelerate depreciation which we can deduct against our W2 (assuming material participation).However, we have been reading through the IRS guidelines (eg publication 946 on Property Depreciation) and there seems to be the concept of "short year" which would mean that we can only deduct ~1.5/12 of a year's worth of depreciation in 2024.Is this correct or are there any different rules for STRs specifically?

Still looking for this?

The click on / locking type seems like what most investors use, but repairs seem difficult without having to re-do a large area. 

This will be my first time managing a renovation out of state so I wanted to find people who have done this successfullyAny advice you have would be super appreciated, thank you! 

@Chloe TaylorWelcome to the community and be ready for a huge amount of information at your finger tips.