I also figured that when he parents do pass down the road, we could refinance through a bank and pay off the sister her half of the home, while still keeping the house and the rental income.

Our tenant would have a key and could assist people in through that entrance if needed.We closed, and at closing the developer signed a contract to install a door and escrowed $20,000 in the event they did not end up doing it. 

@Vincent WeselakIt’s a good idea to get an estimate for your insurance costs upfront since this can vary based on the property type and location, and it’s a key factor in evaluating your cash flow. 

I recommend considering your cash flow and debt-to-income ratio before making a decision, and consulting with a financial advisor to tailor the choice to your specific needs.Good luck!

I personally would stay away from condo-tels as they will be even worse and you'll have less opportunity to cash flow. 

Build a strong team, prioritize cash flow, and take the time to understand the local market and regulations, especially for development projects.

Before jumping into the condo, I’d take a closer look at whether the $300/month cash flow is worth it compared to other options, like a small multi-family property or a property in a higher-yield market.

Hi,I typically rent my 3-bedroom property through a short-term rental platform, but I was recently contacted by an insurance relocation company looking to place a family in temporary housing while work is done on their home.

Over half of my clients are remote Buyers, so I've gone through the STR transition process with lots of investors over the past few years.

I am trying to automate my data collection through excel.