They may have access to paperwork that can help with this.

What made you interested in investing in this type of deal?

But if a tenant defaults they have a right for due process to contest the eviction.We see people try and do this with having a borrower on seller finance sign the deed back over to the lender and if they miss a payment the lender can record the deed back into their name.

My understanding is that seller financing and SBA loans are probably two of the best ways to get this started.

I absolutely collected first, last and security for my class-C rentals until NYS prohibited that practice back in 2019.Many tenants cannot manage their money properly, so this mitigates the issue of not being paid last month's rent when they need to move and the new landlord is receiving those funds they have allocated for their housing during the last month of their stay.This was also helpful to me to pre-screen who has their financial house in order and had saved for their moving costs as part of their planning.If I still could, I most definitely would - without exception.

I’ll try to keep this as short as possible I have a pretty good tenant staying at my guest house month to month.  

He said he'd love to talk through the details of your project. 

Many are not aware of this.

Hey I'll be moving to El Paso next month so would love to connect this fall.

A STR purchase won't help you do this.