A portfolio loan is where you take more than one property and finance it collectively.

Originally posted by @John Underwood:People will just find a VR closer to home, they will still find a way to go on vacation. so does this mean that the smoky mountains are more recession proof than other short term rental markets? 

The rents they collect during the month of october is insane and using it as a reason to get out of town and do something fun with the family, I thought, was a great idea. 

The plan as discussed with both realtors was to have the current owner collect the November rents  and then hand  those to the escrow company.  

If you want to buy it in an LLC you will lose most of those benefits.I’m no expert but the Pro’s of owning properties in an LLC do not compare to the pro’s of buying as a personal residence.I’ve done 3 househacks so far and collect via Venmo linked to my personal bank account.

You may be able to do this with rent by the room too if you can show proof of leases, though I’d speak to lenders about that.

That is assuming the tenant (also me) will pay the real estate taxes, as well as insurance, which will collectively add another $1.43 . 

Property managers make more money on repairs than they do on rent collections.

Collect First Month’s Rent and Security Deposit6.

The minimum balance gets refilled next month when rents are collected.5.