Without reserves, they might be unable to evict tenants or prepare the units once they are vacant.Great points—walking the property and speaking with tenants during due diligence is a practice we now prioritize, along with running tenant histories through eviction databases.

Curious if 1031 Exchange laws vary by state, or if it is just federal legislation.

I work in law enforcement so I already think about all the "what ifs" and worst case scenarios!!!...

Purchase price: $110,000 Cash invested: $150,000 This is our first deal as a full family (Parents, sister and brother in law, me).

Within the U.S. if you want to avoid the bureaucratic nightmares that often follow STRs you will probably want to invest in a well established STR market that already has laws favorable to STRs.

I self-manage, but I understand that's not a practical option for most people.

Also, Zimmer & Rens, a law office, is very familiar with these types of scenarios--they work with many, many local investors.

I do not know him, but the path he is leading you is a difficult path    Note difficult does not imply impossible; there are people who are successful with S8 housing    In my area s8 is so undesirable that they write laws trying to make it challenging to not allow S8 tenants.  

Indeed, the FAIR ordinance is anything but fair to non-corporate landlords, seemingly punished for investing in rental houses to generate income as an alternative to stocks and bonds.A handful of opportunists likely could learn to exploit these new rules, preying on otherwise law-abiding landlords to obtain legalized shake-down payments.

Without seeing your lease, if the lease says that 'charges are due as additional rent' the charges may fall into housing delinquency law.