@Karen Margrave Im still interested in coming to the meetups that you were organizing.

Rise48 is raising preferred equity at a valuation that is not market, with income growth projections that are unreasonable, and putting $7,000,000 of new investor cash back in their pockets... $7,000,000!!

I am assuming that this means I can deduct interest paid to original lender and report the interest I received from buyer as income like Ashish mentioned? 

This strategy can provide 2-3x the long-term rent with steady, less stressful income and no turnover.Good luck with your first STR!

Not a rookie - While I have never purchased a home without an agent, I have purchased two homes in the last fifteen years in Denver and, at some point, managed both with some form of rental income, plus helping my mom manage the independent basement apartment in her home.

Do you have a system to verify income, creditworthiness, eviction history, and rental references?

Some doing IRR as an example but on a yearly basis and just combining the income and expenses as it happened on the first of each year.

If you find a property where the seller doesn't carry a mortgage, it is a great way for the seller to continue to settle the closing costs with a (sizable down payment) while still obtain income for 6 months to a year by holding the note for the borrow. 

They can really throw off your numbers if you are not familiar with a citys transfer tax, and fees.

Your income is higher and local real estate is absurdly expensive.