The REPS-9 election prohibits grouping short-term and long-term rentals, emphasizing the need for careful strategic planning.

It more depends on what you care about.

Doesn't work that way.When you start getting into larger buildings that have been run by property management companies historical data becomes more important and a bigger predictor of future performance.

Both my management company and the homeowner were sued.

@Ryan RuncheyAside from DIY approach and the outsourcing approach, there is a middle way, and it may be just be the golden path for many newer investors.There are companies that will set up your account, customize it according to your needs, train you on how to maintain your own books, and help with support or troubleshooting when problems arise. 

You might call your Insurance Company and just ask them.....Are they wood or metal?

It's always a bit of a red flag to me when there's no mention of the people behind the company on the website.If you're looking to invest in Detroit I'm happy to help.

I would appreciate it if you could pass on any recommendations on areas, furnishing companies or Property managers you’d suggest.Would be of great help!!

You do care, especially about the use of the money, but that’s a separate topic.Your loan expenses, such as wire transfer and loan doc fees, will be paid by the borrower and reimbursed to you from the closing statement.

The first step would be to get a good grasp on what it will cost to provide him with the care he needs now - and for the remainder of his life.