@James Kampmeyer at least in Greenville County we’ll get taxed at 6% if you’re not house hacking and you have another property as your primary residence.

If it is true that there is no written agreement (most owner's won't remember everything he's written), then you may create a sufficient defense by simply getting a short written and notarized statement from the current owner stating, ""There is no written lease and no written management agreement.

At first, I was pretty defensive about it - having recently invested most of our capital into a pricey bay area home.

If this is your only STR and you have a mortgage you don't need to worry about this.Having a mortgage and correct commercial insurance will be your first and second line of defense.

@James Wise - That puts things into perspective.

Originally posted by @James Wise:Originally posted by @Alex Miller:Hello everybody! 

@James Debenham this is great advice.

thank you for your reply James wiseI will start with cash ,buy renovate and sell i will bi locking for  for-closer property's to start to make same capital first and after i will start do same property's for rent what do you suggest in this circumstancesthank you for your time appreciate  

And some of them are licensed real estate agents.That is not cool @James Wise to go around your wholesaler and steal the deal from them.

(and always in writing.)I disagree with @James Wise: You should never let issues between tenants take place in your units, especially if one of the tenants if violating the lease and the other is threatening to sue you.Have you read this?