To me, that means you're going to have a large pool of residents who can't afford to rent a whole place and who aren't against living with others -- essentially, you've got a large pool of potential house-hacking/rent-by-the-room tenants.

(Or, they sell you a wire transfer for $30, but run it as an ACH for $0.40, and keep the $29.60...)One thing I've experienced with a couple of different online money-transfer things is that usually the service deposits a few small amounts into your account, asks you what the amounts were, and then withdraws them again, in order to verify that they're connected to the right bank account; it's essentially a PIN done with pennies. 

They essentially work exactly the same as properties that you invest indirectly: if you depreciate they throw off losses in early years (especially if you accelerate depreciation in which case they can throw off more passive losses than they produce in income).

These were essential to me getting my first rehab done, my favorite link in the world: https://www.depositaccounts.co...

When all of things are newer and you manage the guests well, the actual maintenance costs for a STR tend to be about the same, if not a tad lower, than long term (NOT including the ongoing cleaning costs . . . which again helps reduce the unplanned maintenance and repair costs of the STR).However, in another way you're likely to have MORE maintenance and repair in STRs because essentially you have all the volatility as a normal house, plus furniture and decor, plus a revolving door of guests. 

However, the appraiser noted safety issues about the deck that we need to correct in order to get final loan approval.

They essentially waive all other requirements (except the fees!) 

I should have PM'd you guys links to the Meetup group--we'll sometime the last week of this month (April) but haven't decided on the exact dates yet.Rikako W. it's a little bit of a complicated story but, essentially, the house was marketed and priced as a 2 family, although there were 3 separate units, all rented out and all above ground (there is no basement at all).

Essentially, the business is all in my Dad's head and he more or less just wings it at this point (that sounds bad).  

This essentially, combines both under you and whatever your 1040 says at the end, its what you have to pay or get back.