We're having a hell of a time here trying to figure out how to handle STRs.

The areas south and also east of the Intel campus offer great areas with low crime, good schools, shopping, restaurants and newer homes.The newer homes will reduce your need to do major improvements for years on many of the properties.As a Broker and a Property Manager, we see many doing just what you are requesting and having long-term success.

You need to have systems in place to handle it well and make it a smooth routine.

Then u could reduce your work hours since you will hopefully have cash flow from the duplex.

We pointed out that we already offered more than they originally asked for, contract stated they were responsible for providing all utilities through settlement, and they understood they were responsible but weren't going to handle it, but they allowed me to have repairs done before closing and have the contractor paid from their funds from settlement.   

Although it has crossed my mind that I could refinance out a big portion of the equity, sell and if I didn't participate in a 1031 it would reduce my tax liability.

For my acquisition: I am planning to counter w/ - No money down- take over the note -pay the seller $2000 a month with the intent to refinance in 6 months ($12,000)      - I will handle the rehab costs for the vacant unit (which is about $20,000) and lease all vacant units - Once the refinance has been executed I would pay the rest of the balance of $295,000 the seller wants. ($283,000)If I were to put it under contract I would offer the following: - buyer will pay off the balance of the note ($295,000)- Seller will receive $275,000 in cash because buyer will cover the rehab cost to receive the Gross Potential Monthly Income- Seller will split the closing cost 50/50 with the buyerI would love to hear some input from the BP community.

That is why a title company should handle all settlement and you get title insurance.

You have a professional handle this.

Seems to have a good handle on the Cleveland market, and experience working with investors, both in and out of state.