Also, you can download a sample form by just searching Google for Lien Waiver.  

The owner is still in control of the property and you need to depend upon him/her to a certain degree.BTW:  If you ever sit down to read the 50 or so pages of your typical mortgage agreement, you will see the lender (particularly the big five) have lots of choices ... they just seldom chose to exercise most of them.

Go to a office supply store and get a generic lease, or have an attorney draw one up for you. along with addendum's for pets, crime free/ drug free, lead, security deposit agreement.After you look at some lease samples you'll have a better idea of what is best for your property and you, so your in compliance with state laws.

Goggle cost segregation and you should be able to find some sample reports.You don't have to make the go/no go decision right away either...you can perform cost segregation after year 1 and catch up prior period benefits.Lastly, whether or not you can offset other ordinary income can come into play (things like real estate professional status).This is a tough one to cover all bases in a post.

With experience and the right conditions, maybe you could go with a 75% rule, but anything thinner than that is an exercise for the reader.Instead of making riskier purchases, maybe you can be more creative in creating value?

@Alejandro Herryman This is the best sample case of Puerto Rico for rentals that I have seen in BP.

I keep a screw top lid sample jar of the wall paint, for those quick touch ups. 

Yes and yes.FYI -- I have a 3-video course called the “WHOLESALE ACCELERATOR” (with sample contracts) that I give to colleagues for free (pure training, no sales pitch).

An appraisal based on the income it produces is about double (~$300K more).I've never exercised this option, but my main concern is this:  I now have $560K of debt on a property that is only worth $380K by normal (non-STR) metrics. 

Needing a $100k may be 5 days of cash-flow for someone like Grant, but that's a high enough number to scare most of us from ever getting started, me included.Sacrifice and exercise your saving muscle to prevent schemes and scams, shortcuts and bad partnerships.