The least states:"Tenant shall pay a "late charge" not in excess of five (5%) percent of the amount in arrears for each month the arrears remain unpaid if any Rent is paid more than ten (10) days after the due date thereof, to cover the extra expense involved in handling delinquent payments.

I was just hoping to transition it into LTR and since we have newer furniture that fits the space well, it just seemed a shame to sell it all to do an unfurnished LTR, but again, I'm having a hard time understanding how logistically some of the details are worked out with that with furniture involved in an LTR.Thank you again for the support!

@Kris Lou Be careful with agents as 95%+ of them really only know how to handle owner-occupied transactions.We don't do biz in Indianapolis, so this is unbiased info we hope you find useful:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I am very involved in our local real estate investor association and agree that in this central Florida market there are an over saturation of STRs as well.

I read the fine print and found that the 90 day guarantee and how to get the $1,000 invested back involves actually sending him 2 qualifying deals.

Going this route is more involved and that makes it more costly too.

We're in a small town so we ask our bank loan officer who is involved in the community for a CPA reference.

My guess would be the market will behave inefficiently for a short time as it reacts to uncertainty from the new White House, and then it will re-stabilize into something fairly similar as what it is today. 

Now, if they don't want to do that for whatever reason and don't have anybody to work with who would do that for you, I'd have to agree with you that they'd better invest at home rather than getting involved in something they don't understand.

There's many other options in real estate such as syndication and note investing depending on your level of involvement.