Keep in mind that there are two roles you play as a STR owner: that of a RE investor and that of a business owner.

You are taking a business risk by signing a contract with them. 

Schedule E typically caters to rental income and certain types of passive income, while Schedule C is tailored for reporting profits and losses from a business or self-employment. 

Which will bring plenty of other investors and general business to the area.

I’ll reach out to some hard money lenders and definitely look into the FHA 203k Another option that I was recommended by my hard money lender today- was to open a business credit card for smaller loan amounts.

Hey everyone, any thoughts on taking out a business loan for buying your first rental property?

There are 6 key areas of having your own real estate business that I recommend reviewing periodically to ensure you are on the path to growth and sustainability.

And it’s not just about private business.

Hey Justin, im kinda new to the business also and im from NJ but i been doing alot of research on title companies and attorneys.

The reason I thought about putting the other house (not the residence) in an LLC, at least any expense can be considered business expense. appreciate your input.