Whatever you decide will be best for you - BUT - if you do re-finish the floors....MAKE SURE you do the prep & clean work....after sanding - sweep at least twice.....then tack cloth (you can make them yourself - basically a rag with mineral spirits - VERY easy) - I went over the entire floor twice - I might even suggest three times....it gets the "crap" out of the pores of the wood & lets the wood take the stain much better....and the more coats of poly, the better - but take your time - as they ALL have to dry...MAKE SURE they are dry...

This post is for the STR investors who are looking to take advantage of the STR tax loophole which allows you to write off paper losses against your active income.

I take this info, will browse the mls and quickly can do some back of napkin math to see if the potential property will pencil out using this approx rent and approx mortgage and service payments.

Who is going to do the lumber take-off?

Is there a way take a loan on the equity/etf you own without selling the equity?

@Daniel Mendez As much as possible.If we do a holding agreement to take the unit off the market we try to get them to pay the first month rent and any other move in costs other than the security deposit, which they pay at lease signing. 

This is a great place to learn and to connect with people so take advantage of all the great resources.

Thank you Ryan and Theresa for taking time to respond and offer advice; very much appreciated!!!!

As soon as you take possession, do a walk through to document the condition of the home, so that when the tenant does move out, you know what was damaged AFTER you bought it.

Let's say I have 500k down payment and borrow 500k, and the monthly mortgage payment is 5800, and out of that, 4800 is mortgage interest, and I pay 2500 annually for insurance and 10000 for property tax, could anyone ...