@Miguel Del Real if you are just starting out, and maybe you’ve never bought your own personal resident, it is risky to not have somebody in your corner.

Quote from @Melissa Rivera: When a tenant is late, your policy should be that payments must be in full and with a money order or cashiers check.I would contact the tenant and tell them you will not accept or cash the personal check.

It's NOT to "sell" a person on renting, NO, it's to just get them to click on it that's it, HOOK EM IN, get em to open the listing(C) REEL EM IN!   

Personally, I think it’s important to continue to stay creative and generate new ideas on all facets of the business as legal restrictions continue to present themselves.Have a good one!

.—(1) When any lands are sold for the nonpayment of taxes, or any tax certificate is issued thereon by a governmental unit or agency or pursuant to any tax lien foreclosure proceeding, the title to the lands shall continue to be subject to any easement:(a) For conservation purposes as provided in s. 704.06 or for telephone, telegraph, pipeline, power transmission, or other public service purpose.

I would personally screen my MTR tenants and have them sign a lease.

Personal assets/liabilities:Primary Residence: Have less than 20% equity in this, rest is owned by bank at high interest rate close to 7%.

The cash came from my own personal savings and my father who invested in this deal with me.

Thanks Linda Weygant have you personally done a cost seg on an SFR/STR before?

Furnishings, such as the $35,000 you spent on furnishings, would generally be considered personal property rather than real property and would not be included in the cost of the property.In a cost segregation study, the goal is to identify and classify the various components of a property as either real property (land and buildings) or personal property (furnishings, equipment, etc.).