In DFW, Dallas, and Fort Worth I would only consider a short term rent situation for homes around the downtown areas, sports arenas, and DFW airport.Cons: Unreliable/low income during off-season.More cleaningNo guaranteed incomeUtilities and cleaning increase price needed per nightLong term rentalPros: Guaranteed income every monthUtilities are covered by tenantLess noise, drama, etc if tenant screening is thorough - short term renters are most likely on a holiday so a high percentage will be partyingMuch more passive incomeCons:Short term MAY have higher income depending on every other factor listed above.

Do you offer rental or maintenance guarantees?

Do you offer rental or maintenance guarantees?

It has a 10K enrollment fee that they claim to guarantee success.

Secured or non-secured, I would prefer to always use secured so that way the Private lender has backing by the real estate, next level of commitment to the Private lender is to personally guarantee the funds.

There is no guarantee that another property manager will do better.

Should we ask him to co-sign or guarantee?

You are not guaranteed that rent when things tank.

We also are not guaranteeing anything.

When rehab is completed and the property more likely to obtain favorable bank financing, the IRA could convert some of the initial loan to equity and then the IRA and partner could seek a bank loan, but it would have to be non-recourse with respect to the IRA.Some banks will do a loan with a personal guarantee from only one of two partners, but that is not common.I suggest you and your partner engage an attorney to craft a way to work together.