STR is a better option for renting a room in your house than MTR.

Let her know that it is only for her to live in and if she has guests that stay for more than 2 days (or whatever you think is reasonable) in a 6 month period, she needs your permission....or she has to find another place to live. 

It may be cheaper to only increase rent by $X amount, rather than spending tens of thousands on renovations and absorbing vacancy losses. 

Quote from @Jay Hinrichs:There were no profits from this deal, but the sponsor is offering promissory note with payback from his portion of profits from other deals, in no way related to this one, other than being from the same GP.

The first step of the eviction process isn't anything that would affect their credit, or cost much, so I would do those steps now so that you can start the legal action immediately on the 1st of August if they haven't moved out.

I do not see myself doing 20% down on any property greater than $150,000 to ensure I still have reserves.

Hi Aqsa,I'm bias but then again, I've owned real estate all over and haven't found a better market for sub $100,000 than Toledo.Low entry price pointHigh cashflowEmployed tenants that pay rent onlineDecent areas with well kept homesNot much appreciation so IMO it's a strict cashflow play.If you find and buy off-market you can snag some great deals for sub $60,000 purchase and rehab.Quality of workmanship is the downside and so is motivation of other folks needed to make investing from out of state work.So beware.These are the downsides bit like with any market, you will always have pro's and con's.All the best 👍

Naturally, there's no universal solution, but I'm more than willing to share with you.

You can easily do this on a spreadsheet and it will take less time to track than it would to find and learn a new software.

The Poconos has always been hit or miss (unlike Smoky Mountains or Panhandle or Tampa where you have way more successful STRs), but right now the Poconos is worse than ever:https://www.biggerpockets.com/forums/530/topics/1157934-shor...