Hi all, Looking for insight on any rules and regulations for STR in gansett and south kingstown. 

The learning curve of screening, leases, mgmt practices, move-out, law learning, being handy, etc? 

There's a good book on managing rentals in the BP bookstore, or I recommend "Every Landlord's Legal Guide" by NOLO because it includes tons of practical advice but it also directs you right to your state laws.

Even if you're not ready to make offers or close, get practice evalutating deals so that when you're ready you know exactly what you're looking for and are ready to roll.

Practice makes perfect!

I understand depreciation reduces my tax burden against any income generated from the property, but I won't have any income generated, so what's the bottom line practical application of depreciation for me in this scenario?   

What are the main legal/ regulation requirements? 

Requiring a copy of the lease is standard practice for lending on investment properties, assuming someone is already renting it. 

According to them, it is standard practice to quitclaim the property back to the name of the individual to get financing, and then put it back into the LLC or other structure.

I understand now it's a seller's market and the cost is rising, but still, is this a common practice?