You can also do an audit of your “hotel” to see how it compares to others in your market in terms of design and amenities to fully maximize revenue.

They may close fast in competitive markets, with an LTV ratio ranging from 65% to 75 percent.

I thought this was strange, and they commented they wanted to buy it because they had a large gain and wanted to buy it to offset these gains.This was an immediate red flag.

This helps give them an idea of the area. 

If you deed a property from your personal name to an LLC - especially a disregarded entity - it doesn't really do anything for taxes or asset protection.

Citizens is not an option for STR properties as they do not allow that type of occupancy.

He might accept 10% down on the new buy with an equal amount as a lien on the building you already own.

There are lots of experienced property owners, lenders, real estate agents, attorneys, tax experts and more here so don't be shy to ask questions and I'm sure an expert in that field will be able to help.

I could see the garage possibly being an issue, however, at least it has a garage.

Reach out if you want an info doc on this.Not getting title insurance is foolish.