@Mara Cantonao- if you ae  shopping - you should be fully formally  pre approved  with a lender ...they can  assist  with any and all  rate  type  questions you have

I also do not agree to show the house until I have pre-screened them with basic questions such as: 1-Have you given notice to your current landlord and when exactly can you take a house as we are looking for immediate occupancy--the house is ready to go- We also do not schedule a showing until they have driven by the house, walked the property and seen the neighborhood--if they like the house, they generally call you the day they go out to see it--there are alot of people who are just kicking tires and really are not that serious about moving--you have to control the showings, unless you do not value your time--You can also tell alot about the potential renter by the manner in which they answer your questions-- we take showings very seriously and prep the house as a formal house showing--, aired out, freshly swept, vacumed, etc--I do not want to go through all that hassle and time, not to mention getting your lease apps ready, driving to the house etc, just to deal with a looky-loo who is just wasting your time.

During our due diligence we attempted to get as close as we could to the subdivision with the county and worked with someone from zoning to get a written approval which could be used to formalize the subdivision as soon as we owned the property.

For example, if I install a pool...but no pools are in the comps...but that pool is for my kids and their friends come over and my family uses it for years and we form all of these memories and birthday parties, etc...then what's that worth?  

@Roy Gottesdiener- thanks ....iff you will need to use financing  for the STR plans - get  yourselves formally pre approved so you can make sure  all is well  and  to be prepared once you locate a  property - good luck

We should be concerned that our system allows a judge to be a participant in the administration of purported justice, but does not require the judge to ensure that the defendant layperson tenant / lessee fully and completely understands his or her rights, and makes sure that they do not unwittingly waive any important rights.In theory, a tenant / lessee could make 7 of 8 payments, or 12 of 15 payments, and yet find him or herself in the same situation, to wit, unable to communicate with a virtual landlord, with an out of state property manager, both of whom were unresponsive to communications, and contact only with the attorneys representing the virtual landlord, while standing before a judicial officer more interested in the processing of cases as opposed to ensuring that the less sophisticated party fully understood their rights.I think that this issue is one of universal appeal and concern.

across the 3 properties i own/co-own, we have 15 tenants right now (+2 vacant units). of those 15 tenants, a handful have had to pay late over the last month. i know a lot of investors and property managers who would've given formal notices as soon as possible. that doesn't work for us.every working role i've ever had has been in customer service, and property management is just as much a 'people business' as anything else. as a property manager, you're selling a product/experience to a customer, and if your product/experience sucks, you'll have a hard time keeping customers around.part of providing a great product/experience, is knowing your audience. so in this case, knowing what type of tenants your units are going to attract, what exactly they're looking for, their pain points, etc. that said, an "a-class" rental require one style of property management to be successful, "b" requires another, "c" requires another, and "d" requires another.most of our units are in c-class areas. what i've found is most effective in c-class areas, is being human. if a tenant is hit with a bunch of unexpected expenses one month, they very well might not be able to pay in full on the first.

Some folks reference the Fannie and Freddie Mac decision that formally allows this, but most mortgage companies have a due on sale clause that means your mortgage can get called if you use this strategy.   

If necessary, write a formal letter and mail it via USPS First Class Certified Mail stating relevant details.

Always prepare for the worst scenario.3) Lack of experience: If its a beginning syndicator who isn't pulling together a team of more experienced folks or coaches or mentors, there's a higher risk of failure.3) Lack of formality/Lack of Deal Structure: Handshake agreements or, my favorite, the "I pulled this template off Google and edited it myself".