If you're handing out hundreds of thousands of loans to folks with below average financial literacy, i/o is a bad thing (& this is why HELOCs are harder to get than Fannie 30YF amortized).If you are a specific borrower, and financially literate, i/o is actually a good thing (there are full doc A-paper i/o 30YF mortgages, but not from Fannie, and harder to get).Interest only is just a tool.

What tools do you BP folks use to analyze short term market rentals? 

This is the time you make a wise choice, and stick to it, and crush it.Do you think I am happy I picked SEO and stuck with it?

◦Ensure tenants have the latest online tools to keep them happy.

They use it to entice and advertise, it's a marketing tool.

Whatever you do a mix of different strategies and income streams is always better than trying to make it work with a single tool.

Immediately after getting an LOI or contract i request the following items....Exhibit BInventory of property tools, supplies and personal propertyExhibit CService contracts including trash, laundry, extermination, lawn service, etc.HVAC and/or boiler reportsExhibit D Property management license (if applicable)Certificate of occupancyExhibit E Certificate of insuranceInsurance claims history for the past 2 yearsExhibit F Commission agreements with the leasing staffCurrent property management contractAny other vendor contractsOther Requested Due Diligence DocumentsLast 2 years of financial operating statementsA year-to-date operating statementLast 6 months of bank statementsUtility deposit registerUtility bills for the last 2 years.Property tax bills for the last 2 yearsIRS Tax returns and addendums for the last 2 years (as relatedto the property only) Articles of IncorporationGood Standing Letter from the Department of RevenueAny licenses in the name of Sathyam EnterprisesRent roll for the property for the last 2 yearsSecurity deposit registerPayroll recordsEach different lease typeWritten property policies such as pets and parkingInformation on all rent concessionsList of any uncompleted maintenance requestsMaintenance and capital improvement history for past 3 yearsLitigation history on the property for the past 5 yearsAny operation manuals for the propertyTitle policySite planArchitectural plansEnvironmental ReportsAny mold inspection reportsAny lead-based paint inspection reportsAny fire system reports or citations

I just need the right tools and especially the knowledge in order to succeed.Being that I am new to REI and know that I will be moving to that area in the near future, I figured I would try to educate myself the best I can so I can hit the ground running once I move.

I like to have as many tools in my arsenal to see what will make it a good deal. 

While setup can be a little tricky if you don’t follow instructions to a tee, once configured it’s literally set it and forget it. https://www.amazon.com/BRAEBUR...In addition, there are smart oil tank tools as well, but that puts you right back in the business of having to install and support “smart” devices, own the network, or get your tenants to agree to put your devices on their network and not decide to change the network name/password at the point they realize you’re using their network to regulate their heating.