We are closing on our first STR this week!

Unless you have lived for 2 years in each unit, then you can only claim exemption on half of the gain.

Purchase price: $204,000 Cash invested: $30,000This deal was an almost brand new construction in an up and coming area on the outskirts of Houston, TX.

What online tool (eg LegalZoom etc) are you using to form your LLCs for your short term rental?

If you are using their money for a down payment, are you really planning on renting it to them in a traditional sense or simply having them pay for the mortgage, insurance, taxes, etc (ie you won't be renting it at market value more you are buying the home for them and they are making all of the payments and repairs?

He does more MTR, but has STR in multis and knows every strategy in the book for you to do this well and not botch it on your first one.

Echo the two other comments but I still keep track on an Excel spreadsheet for any doubt. 

She thinks it’s ok to stay for free and she deserves free housing, non paying her dues or any thing just because she does not have a job (on purpose) and does not have money ( has all money for fancy furniture and gadgets)But anyways she has not paid her move in deposit ( paid partial) and has not carried renters insurance.

Hey, CA, Austin, Dallas, Miami, NY, Chicago and on and on and on, how far does $25k go????

Please no comments on how I'm losing money and I should get better cleaners.