@Neetu Patil You need a way to screen the tenants and you should know what your criteria is before you accept an application.

I do not need a long-term management software, such as, Buildium, Rent Vine, Rent Ready, etc., because I don't need all the extra services they provide; I just need an accounting service specifically for PM.

Compare that to some areas like driving park that went up by 35% i don't know why you'd invest in this area for long term hold.

Focus on risk management and set clear short- and long-term goals for your real estate journey.Good luck!

You're looking at a commercial lease transaction which will bring around $200,000 total dollars over the initial term.

Most of them transition to MTM after the initial term expires if neither party takes action to modify the terms.

Can't you achieve $1350/mo or more by turning half of it into a long-term rental?

It is a specialized accounting software specifically for short term rental hosts.

I became interested in real estate in fall 2023.As of early 2024, I don't have direct real estate experience, but I'm excited to learn from seasoned professionals and successful investors.My long-term goal is to be a buy-and-hold investor of multiple properties and to set myself up for a wonderful retirement.Let's connect!

Here is a good forum: https://www.biggerpockets.com/forums/530/topics/1056436-clearing-up-confusion-on-tax-treatment-of-short-term-rentals