. $620 *24 *12 = $178, 560 if you take the $158,00 gross income that vacancy of just over 11%, not terrible, but need to talk with lender to make sure this isn't going to be an issue.Expenses are definitely low if you're going to have management, but ultimately it doesn't matter, not really.Ask your manager to put together a proforma and see what your income and expenses are and how much upfront capital you're going to need to hit those.

Make sure he doesn't have a written agreement to provide service.

You can go to your states site to form one, it typically doesn't take much time, you can do it online and the cost is a couple of hundred dollars usually.Please reach out if you have any questions.

The downside to trying is limited to the cost of furnishing the property, and even then, you may be able to rent it out furnished on a long-term basis if the ST stragtegy doesn't work out, or sell the furniture for that matter.We started STRing back in January 2018 and are documenting our learnings (which are growing :) ) at our blog here (http://www.trihomestoday.com/blog/) if you're interested.Good luck and feel free to reach out with any other questions!

I came to realize that he doesn't have a place to live. 

What would be a correct way of wording that so it doesn't sound like a novice is going to treat you like dirt.

He also says his company doesn’t do an appraisal, the do AVM.

. ♡ Thank you for the deeper explanation behind your decisions and for taking my comments as positive reminders :)As someone that has scratched and clawed from nada I have a hard time understanding why everyone doesn't say 'there has to be a better way!'

I have a feeling it may be the lender or the rep who doesn't seem to know the rules.CMHC will definitely approve a primary, even if you have 4 or 5 rentals.

Historically it’s a bit slower in the winter but trying to time the market just doesn’t work in my opinion.