As a proud husband and dog owner to the charming Luka, I'm here to connect with like-minded investors, share experiences, and learn from this incredible community.I'm eager to join communities that will not only help me expand my knowledge but also hold me accountable on this exciting path.

If you have a $6000 per month interest only payment and the best case scenario is renting both units for $5000 per month (you only mention renting one unit for $2500, perhaps the other "owner" unit is far nicer and commands more rent?)

Basit-  The point of the podcast that I was listening to was that this "STR Loophole" ( I know it's not a loophole, but that's what they were calling it on the podcast) is relatively unknown to many tax professionals and STR owners.

So we have bought properties that are really well taken care of by a long term owner and need minimal work before being put in service.

This data can provide light on their dependability and level of client support.Seek recommendations from other real estate investors or property owners in your area.

The owner called me a few days after receiving.

Now I don't know if you are a believer in the tomfoollery of these asset protection gurus who have you set up multiple LLC's but, however, that theory of keeping everything in separate vaults does not work with getting a NonQM bank statement loan for example which could be used as income.You live in the property- owner occupancy also limits you from many commercial or DSCR type loans.

I couldn't believe it and a few months later met the new owner and he confirmed he put $750K down.

I found an owner that bought three multifamily properties last year with the intention of renovating them, and then keeping them long-term.

When I get to them, the home owner might think of me as his "fair-haired boy" and want to talk to me.