Question: If you were to purchase a STR to close in November and the seller negotiated that the buyer must honor existing rentals with the current rental company/property management until January of 2025…. 1- does this negate the short-term rental loophole for the 2024 if you aren’t managing it yourself for these months in 2024?

The value on these lots are $15,000-$20,000 each What made you interested in investing in this type of deal?

Hello you mean this one?

The tenants have not taken great care of the space, would this cause a lower reasonable rent? 

I don't have experience in real estate or house hacking, so I want to ensure my plan is sound and that I have all the details mapped out.

What made you interested in investing in this type of deal?

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.PM us if you’d like to discuss this logical approach in greater detail!

Depending on the size of the discount when the note was purchased, this often resulted in a 5- - 100% increase in ROI. 

Hey JerryWe do not use this in all of our units, but have had some clients insist on them over the years. 

However, I am willing to let this tenant go as this appears to be a nuisance.