I'm considering getting out of the Mid-Term Rental Game.I purchased 30 apartments (two 10 units, a 6-unit, and a 4-unit) for the purpose of running them as Mid-Term rentals.Currently, half of them are being run as MTRs while the remaining are still LTRs.My MTRs average $1,600/month while the LTR rate $900/month.Now that I have some data, I wanted to compare apples to apples for MTR vs LTR revenue.After adjusting for the increase in Insurance, my VA for communicating managing, and supplies/increased repairs it's looking closer to $1,200 for MTR compared to LTRs $900.It's a lot of extra headaches for $300 more per month.I'm also having trouble refinancing these properties because banks hate seeing anything but LTR.

The other option would be international wire transfer but the bank fees can be expensive for that.Hope it helps

One way to do this is by carefully keeping track of all the income and expenses related to your business.

While we likely won't see sub-5% rates anytime soon, buyers are getting acclimated to the current rate environment which is very close to the 20 year historical average.

The seller is tired, which means there's a very good chance the contracts aren't that great, the properties are not well managed, a percentage of the tenants may be problematic, etc.The income per door, per month is probably low considering your location and average rents.

But now it starting to cost $2500 a month plus survey expense of $1600 and counting…😡 

Ask more questions. our average new build in columbus for the largest home builder is 122 days (Dr Horton) and that's when all of them are side by side

@Angelo CortezMost STRs report income and expenses on an IRS Schedule E (not Schedule C) unless your STR is offering "substantial services"-> for example, concierge services or a butler to guests. 

Hi,I recently purchased my first rental property in VA and it generates positive cash flow around 250 after all expenses, insurances etc.I am trying to purchase another property(Condo) in Franklin Park, NJ.

As Jeff S. suggests, it's not too expensive to do the paperwork online.