That is the simplest way to be entitled to be an owner, and participate in the gains without reporting.

@Tom Tesmer what is a typical buy and hold deal looking like in that area?

They don't have their hands tied with regard to the number of loans you have.Hard money is typically for flips, but you can get an unlimited number of commercial loans for long term rental properties.

- What percentage of total revenues do third party operators typically charge? 

I'm getting quotes on 20% down ($185k price) of 5% and up.  Should I keep shopping around or are these rates consistent with what others are seeing? I'm in DFW / Dallas area.

To make a strong offer, you need little to no contingencies, quick closings (typically), large EMD, POF, and an ability to create a spread for profit.

less than a week but we typically get lots of activity.

I am not sure how true this is though.On the news I have seen reports of contractors trying to overprice their work due to the demand.  

Fine print.You should never be required to use any closing service (e.g. escrow) provided by the flat fee service agent.We've done hundreds of these for sellers in California and have found that a home selling boils down to getting just three things right 1) get pro photos, 2) offering a fair buyer agent commission on the MLS (typically 2.5%), and 3) price it right, which you'll know once you list (lots of offers = too low, no offers = too high.

@Jason Jebeles,Homeowners policies are typically inadequate for Short Term Vacation Rentals such as HomeAway & Airbnb.