Most of the time is spent answering guest inquiries, scheduling cleanings, and handling the occasional issue that pops up.

Painting walls, updating fixtures, or handling minor repairs yourself can save thousands upfront.Consider Your Exit Strategy: You’ve got the right idea;house hack for 1-2 years, then convert the property into a long-term rental.

Some lenders offer this option, while others might prefer to handle each property individually.It will come down to the lender’s criteria, such as combined value, rental income (if applicable), and your financial profile. 

Hi Ben, doing this for 20 years, I’d say if you move forward, refinance your two rentals to the max they can handle under a stress test for mortgage payments.

This gives you a clear roadmap for how to handle the situation while sticking to what you both agreed to.

Do you know how point of sale is handled?  

If you are worried about this there are companies that handle servicing these payments automatically on a scheduling system if you have a bunch of them. 

For that extra psychological safety of handling a that multi-M upscale luxury property transaction maybe worth it, but that's not your market. 

If they're not familiar then it's your chance to get your foot in the door by bringing 1031 education to them.It's been a few years since I checked but at one time NAR showed statistics that of all the transactions potentially qualifying for 1031 exchanges, only about 10% were actually handled that way. 

There are so many rentals in the area, probably on shared wells, so those people have either decided the STR use is okay or they are comfortable risking it.My intuition is that any actual disagreement over water usage could be handled with the other owner; but the risk would be if the other owner just doesn't like the STR and wants to use the well agreement as a reason to demand it be shut down.Any advice would be greatly appreciated!