Not that Airbnb is better or worse, but much more expectations from them and reviews that could tank the place when a motel churns money and is what it is, but has more staff.

After speaking to the loan officer, he emailed over the paperwork and I began churning out the needed information on all 30+ pages.

Keep in mind some vacant land can even have high property taxes.If you held for investment rather than to churn inventory, you would be able to 1031 in a rental property etc, as long as it is a held for investment type of property.  

That $1mm investment churns out, after alls said and done, that $5K for you in perpetuity. 

Depending on where you are looking i think a lot of the value add has already been churned thru.

For example, I see properties get rented out within 2-3 weeks in Worcester, but in Gardner you should really be planning for 2 months of vacancy right up front due to lower population and less industry causing less churn and overall demand for rentals.Commuter rail does come out to Fitchburg and the stations are a short drive depending on where you buy in Gardner, but the train is a long ride to Boston...

it's the same with taking 1/2 month's rent on a new tenant...they can just churn that apartment to keep getting extra cash...anything a management company can do to financially align their goals with the property owner's profit would let me trust them more and possibly consider doing business with them--marking up a maintenance man's billable hours doesn't seem right in that light.

I'll do this because there are (usually) financial incentives for unethical behavior by property management company employees to create churn (and additional placement fees) by failing to work with tenants having temporary problems and by failing to promptly take care of maintenance issues they cause unnecessary turnover, by nickel-and-diming tenants for late, lost-key fees, etc., and "damages" to increase their own performance incentives, by charging top-dollar for mediocre workmanship and pocketing the difference, and by steering tenants to their own or their most profitable apartments.

Well, I'm gradually reaching out & gathering data for my binder, it just feels like I'm on an open highway & everyone around me is zipping buy while I'm churning along on my bulldozer.  

How do you know if they are churning your tenants?