We're trying to make it so when a seller calls our number back, their information pops up so we know who they are exactly. 

That's likely the broker trying to get more money at the end.

Ty sirWhen would a HELOC ever make sense??

You can also hold money for maintenance, capex, taxes, insurance, or other projected expenses.

Like others have said, you don't need an LLC to get started with STRs.If you own a single unit or even 2 or 3, simply make sure you have the best insurance to cover any issues as well as an umbrella that can cover any excesses.Plus the major key will be maintenance.

I haven't, but just make sure the mentor has personal experience/success AND you have access to either him or a qualified coach for as many questions as you want to ask, versus just buying a course like some people offer. 

Cash flow for sure, but we have to stop making OOS investing sound so easy. 

In most cases, I bring a printed lease when I exchange keys for payment, have them sign it, go home and make them a copy, and then either mail them their copy or drive it back over.

HI Vincent,Correct DSCR is only applicable towards investment properties and you need to own at least one property in order to look into DSCR.You can always start off by house hacking meaning you live in one UNIT or ROOM and renting out the other vacant units/rooms to offset your monthly mortgage payment.There are several ways to run and make sure you are maximizing your rental income while keeping your living expense as low as possible.

Because buying a one-off in those areas and then paying property management is going to cut or kill your profits.If you are doing OOS, you should focus on more turnkey or rent-ready over value add because as a new investor, you are going to lose money on the remote rehab.With a prior bankruptcy, an FHA loan, and 50k from someone else or inheritance, I would think a little more solid about how you want to invest.