If you fail to follow the rules, you may open your personal assets to a lawsuit.

Less RiskWith traditional rentals, if your one tenant fails to pay, you’re in trouble.

When you have an AirBNB guest who hasn’t paid, you wake up one morning to a terrible message saying that AirBNB has failed to capture payment from guest Mr.

Expect significant renovation, so having a reliable renovation crew is worth its weight in gold.

One last comment about the regulators: the SEC will do nothing to a syndicator with a failed project, so long as he/she shows that they did not do anything blatantly or willfully illegal and were merely incompetent failed syndicators.

You have not added to much difficulty in terms of tax preparation, but in terms of tax record keeping you definitely have.I am not a tax professional, but having been a landlord who has tried(and failed) in my own tax situation, I would love to help point you in the right direction.Being your first year, it is all but a certainty that you have taken a loss.

What if a tenant fails to pay rent, leaves $2,000 in cleaning and repairs, and it takes another month to rent?

So it could take a decade to get to todays market rent. 2) it’s almost impossible if not impossible to non-renew a tenant, especially if you’re not an owner occupant. 3) As a seller, even if I could remove paying tenants I never would without a non-refundable payment from a potential buyer that covers all vacancies for 6 months if they fail to complete the purchase. 4) You MIGHT say as a buyer that’s worth it.

The #1 reason that Landlords fail, according to the American Apartment Owners' Association, is the landlord's failure to manage to the lease.  

They have failed to renew my entities with the Secretaries of State multiple times, have billed me wrong amounts, and GREATEST OF ALL, have cost my business ~$50K in cumulative TAX PENALTIES due to negligence in filing for a tax extension, failing to walk me through my tax filings and needed payments, and failing to file an abatement promptly.