If your current deposit already equals one month's rent, you can't request additional funds.Keep the lines of communication open with your tenants, explain the process clearly, and you'll avoid any misunderstandings.Good luck!

I will look more into starting the HELOC process. 

In the process of analyzing deals, I reached out a property manager for his fees.

My credit got negatively affected but we’re in the process of building hers ( she had no credit nor bad credit) I think we’ll have her credit above say a 700 in the next 6-12 months.

They’ve just been telling me it’s been processing with Underwriting for three months now.

Anytime you are looking at purchasing a condo with a mortgage, the HOA Questionnaire is always going to be a key point of the loan process.

That can be a tough part, but isn't close to half of the process.

Lenders desperately need/want business especially in this interest rate environment (right now, the main source of mortgage loan business in Florida is rehab financing as a result of the hurricane damages) and one way the big players differentiate themselves is by streamlining the process.

However, we will likely need a property manager to assist with some facets of running this rental (since we would not live locally) and would primarily market it through platforms such as Airbnb and VRBO to start, (eventually setting up a direct booking process).Here's our question for those who have experience in STR's or who might be involved in a similar scenario: How challenging is it to meet the material participation hours needed to achieve active status?

It's an awesome way to jump into RE yes its scary at first but as long as you have a criteria going in it eases some of the emotions during the process my biggest thing was lower my cost or keeping it the same.