Example belowwe found a house for 900 a month rent Asking price was 59900. taxes 1400, insurance 800, renovation budget 25k mostly cosmetic and minor fixeswe went into it expecting a 15% return on our cash out  that gave us a expected cash out loan around 75k to get our 1.4 dscr   When we plugged our numbers  we could go over 47k on our offer to make the deal work  we offered 43 and got counter 47,5  we took the deal assume a slightly lower 1.38 dscrthe key is to scale and be selective on tenants AND not allowing pets (you can offer them but suggest crazy fees to cover yourself)  500 pet fee, 25 a month per pet etc.  

Typically a HML will not lend on owner occupant property due to federal compliance issues.

It may seem like more work but due to all of the glitches in the software it is easier.Appfolio is all encompassing and we do not need any other software to manage LTR.Reach out if you ever need help!

ALL DUE respect, terrible choice, ok so you made 130k, 65k each, after taxes, 40k, so what. 

Downpayment came from proceeds of a land flip bought at an online tax auction (**********).

I am currently reading The Book on Tax Strategies for the Savvy Real Estate Investor by Amanda Han and Matthew Macfarland.

I have a Villa in Tulum, Mexico and am having a hard time understanding how much of the "Host Payout" actually goes to me, because I would think that the entire $665.57 would be mine but it looks like they deducted the "Cleaning Fee" and "Remitted occupancy tax" the "cleaning fee" I understand but am confused on where the "Remitted occupancy tax" is going.

I have a rental condo worth about 550 payment is 1000 per month HOA dues are 150 per month currently rented at 2000 per month just did comps through the bigger pockets tools and it is showing 3700 as a good comp for rent.  3 bed 2 bath with 2 car garage.  

If the STR income is on your tax return it is qualified just like long term rent using this form:  https://content.enactmi.com/documents/calculators/Form1038.C...

I'm what people might describe as a "jack of all trades, master of none" (although at this point, due to my current career, I have a fairly deep understanding of interest theory, loan amortization, assessing risk, and certain other financial topics).