The only thing I can suggest is to go and have a sit down with a couple of different management companies that specialize in managing vacation rentals and gather some information from them.There are a lot of vacation rentals in my area, but oddly, even though I know a lot of people active in several different areas of real estate, I don't know anyone who has vacation rentals (except for one friend with a B&B, and that's not really the same thing).The only thing I know about vacation rentals is that they are extemely management intensive and the management companies charge a substantial fee.You have turn over every week, and someone has to be there to clean, repair, asses damage, and inventory all the household items.

Write out exactly what is expected of all parties involved and you shouldn't have any problems.As a side note, if the investor tells you that the deal is garbage...IT'S GARBAGE..:) I've had newbies come to me with some bad deals and it seems like they are so anxious to do their first deal that they try to make make a bad deal into a deal.

The hardest part about rehabbing is understanding the cost involved with a rehab and controlling your need to make it perfect.

I think you would have a better chance of purchasing below market if you concentrated on regular sellers since there is some desperation or emotion involved.

May well be there are two loans involved.

so many people screw themselves in this world by not knowing what they are getting involved in.

So yeah, having said all that, when I start expanding my landlord game, I will be breed/size specific and depending on "familiar status" probably none at all (I may not (and would not) be able to discriminate against kids, but I will discriminate against pets if kids are involved).

There's hardly any work involved--you [short sale negotiator] are doing all the work, aren't you?

I am direct to a resource, but he only gets involved with short term, commercial/corporate scale lending needs (10MM to 600MM).Regards,KWS

You'll find some great threads to get involved in and you'll make some great contributions as well.