Lease Agreement: When it comes to lease agreements, using a solid, state-specific template is key.

Even if using a pm you’ll typically pay more for str management than ltr management.With that said…. when I finished a large renovation on my duplex and was ready to refi I searched for and found a tenant who only needed a place to rent for a couple months.

Ideally I will be using a 5% conventional loan and will be funding the DP+ closing costs myself.

We haven’t modified rent and the tenants were placed using a state program to make them financially responsible, which has worked out minus the claims of home invasion. 

He said it was because they are calculating interest over a 360 day year, while I was using a 365 day year.

Your record of this deposit (via teller slip or online transfer) will be your receipt of payment.This elimates complextity and the additional steps/rules that come with using a third party to collect rent.I get an email alert when a tenant makes a deposit, and each rent amount is unique so I know who has paid in case they don't have the teller add a memo to the payment.They can transfer funds online, or walk in to a local branch with cash, personal check, wampum, etc. 

So I started using a backup cleaner on Turno.I agree that Turno is expensive, at the same time, part of self managing and scaling is that I make it manageable. 

In your case, the LLC that owns the single-family home would need to be the one making the new purchase to qualify for a 1031 exchange.However, using a 1031 exchange to buy out shares of another LLC is generally not allowed, as the IRS views LLC membership interests as personal property, not real property.

I'm pretty sure you can do BOI filings for free on the FinCen site.However, our CPA recommends possibly using a third-party service because many of them may make changes/updates (e.g., your address changes) easier. 

@Camy Kwok, When using a 1031 exchange the taxpayer for the old property has to be the same as the tax payer for the new property.