Purchase price: $212,500 Cash invested: $50,000 When we talk about long term rentals the goal is to buy something that people are going to live in 3-5 years with the ability to raise rent over time ahead of insurance, taxes and inflation.

We took over the property management because the owner was having multiple issues with a few of the "tenants" that have illegally sublet the property, and we are now dealing with the ripple effects (e.g. squatters, dogs, dispute with neighbors etc.)The landlord is cash strapped, and has asked me to go in on the property/deal with him in order to get a cash infusion to cover legal fees & renovation costs. 

Sometimes, when I buy a property, I am ok to have a short-term lease with the owner until they move out, but I agree that there seem to be too many variables right now that add uncertainty to the deal.Is the Title clear?

I know people that set their ac to 70 all summer long.

It simplifies accounting, enhances financial transparency, and supports effective management of your investment property within the LLC structure.Hope this helps!

Purchase price: $215,000 Cash invested: $55,000 When we talk about long term rentals the goal is to buy something that people are going to live in 3-5 years with the ability to raise rent over time ahead of insurance, taxes and inflation.

Lot of great replies on here already - only thing that I would add to consider is getting a few outside opinions from realtors, other hosts, property managers, etc. about the medium to long term outlook for STR regulation in your specific area.

I would not especially if it’s a long term holdLastly if cash flow is negative they pitch in ?

This strategy helps offset W2 income effectively.

The idea would be to sell the lots to pay down on the short term mortgage until the house got fixed entirely.