@Brennan Harms I would def look into str and educate yourself on them.

Additionally, i'll make it clear to them (in writing) that they have a combined security deposit of X amount, based off the remaining sum of deposits from the two individuals that actually made a security deposit beyond their last months rent, and that, should an issue occur, that security deposit may be applied to resolve any damages and they will be left to reconcile the financial discrepancy among themselves. in a nutshell:  1-Year Lease for the whole house based upon the combined unit's rents.

I also assume depending on where the property is, whether in a cold or warm location, will depend on when most of your traffic occurs, whether during the summer or winter or all year around?

Both generally occur before any LP receives profits on the funds that the fee % is calculated against.

I've always had some questions about my plan in real estate and always went to google but it just occurred to me to network here with experienced people instead of digging for answers.

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

In general, more and more lenders will be tightening their credit boxes as rates continue to go up, while they see what market changes will occur.

If you show them you know how it's done properly and formally for their protection, regardless of your personal relationship, they will be more understanding and trusting when hiccups occur that aren't in your control.

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

This just occurred this past year.Zach, in St Louis how are your STRs taxed for property taxed.