Would these rules change if the REI business was an S Corp vs llc? 

@Christopher Lombardi I feel like we just saw each other over on LinkedIn- small world 🌎Depending on the portfolio creating a Captive might make sense.

Here is a good rule of thumb:If you can live in one unit for the same amount of money (or something similar) as it would cost you to rent it, then likely the deal is worth it. 

From here, low-cost would be working with your cleaners on communication, email/text, and creating a shared calendar to track guests check-in and check-out, and then communicating dates/times for cleaners to be there. 

Such a simple thing, that creates respect for self, others and the community.

Right now, I find myself bouncing between analyzing short-term rentals, then long-term rentals, and then creating financial projections, only to come face-to-face with reality (how accurate are my projections, and are my expenses underestimated or overestimated?).

Single might not have as much cash flow, but multi family properties create more potential for issues since there are likely multiples of everything (furnaces, hot water heaters etc)-what property class are you looking for.

Perhaps it was a situation where the borrower created value through the entitlement process and the lender treated the imputed equity as the cash contribution.

Create columns for Name, Street Address, City, State, Zip and then contact info: Last Contact, Relationship, Status, Email & Phone.IMPORTANT: do NOT ask people for THEIR business, ask for referrals!

Any other tid bits or rules of thumb would be helpful.