Out of state is a crap shoot—you are putting a lot/all of the execution out of your hand so it’s dependent on you being able to identify good operators (which requires experience).

Have you ever operated or managed a company?

If the deal makes sense the buyers typically buy it immediately.

If so, this is just a real estate loan, and it would typically be recorded in second position behind the first position purchase money, if allowed by that lender.

Hey Alba - first thing I would do is give your local municipalities a call and see what it takes to legally operate an STR in those areas. 

Typically they will want to use properties sold in the last 6 months and as close to the property as possible.

If below 25%, we think the potential upside is NOT worth the cost.What ROI do you typically target on your value add deals?

We also tell them when they’re going to get their security deposit back and what requirements they have, which are the requirements that are spelled out in the lease, but we highlight the typical problem issues like cleaning, lightbulbs, cutting the lawn, removing all their possessions,… Etc.

Typically liens and taxes are paid out of the proceeds of the sale at closing.

There are certainly other advantages to an LLC vs a sole proprietorship, and personally, I would lean towards operating as an LLC or corporation in most ventures.