All Forum Posts by: Priyanka Verma

Are you exploring short-term rental investments and want real numbers to back up your decisions?

GetChalet.com free Airbnb investment analytics dashboard gives you clear insights into key metrics like occupancy rates, average daily rates, and local supply trends.

Use the built-in revenue and ROI estimator (Airbnb Calculator), get investor guides, stay updated on local regulations, and even check mid-term rental potential all in one place.

Honestly, for me the hardest part wasn't picking the CRM, there are tons of good ones. It was cleaning up my contacts and actually putting them in right. I had leads in my phone, email, sticky notes, open house sheets pulling that all together and organizing who was cold, warm, or past clients took forever.

Second headache was setting up all the follow-up reminders and drip campaigns so they actually made sense and didn't feel spammy. Learning the tech was doable, but making sure it fit how I work day to day was the real challenge. Once it's in place, though, it's worth every minute.

If you run the short-term rental with stays under seven days and you put in at least 100 hours of work yourself (more than anyone else), then yes, you can usually use bonus depreciation to offset your W-2 or 1099 income. The cost segregation and bonus depreciation on the building parts and furniture are fine as long as the place is ready and used for guests this year. If you switch it to a long-term rental next year, that doesn’t mess up the write-off. But if you take the furniture home for personal use later, you’ll probably have to pay back some of the tax savings on that furniture as recapture, taxed at your regular income rate. The main thing is to keep detailed proof of your hours and guest stays so you can show the IRS you really qualify, this is where people mess up. It’s smart to have a tax pro check everything before you pull the trigger.

$2,250 for 23 wood window covers comes out to about $98 per window. For wood covers screwed into stucco, that's honestly pretty fair, most folks pay anywhere from $100 to $300 per window depending on wood quality and labor. Stucco does add a bit more work for the installer, so that cost makes sense.

1. Separate Folders - Paper or digital folders for each property, store receipts by address and year.

2. Use Apps - Apps like Stessa, RentRedi, or Avail let you upload receipts and link them to each property.

3. Separate Accounts - Use separate bank accounts or credit cards for each property, makes tracking simple.

4. Simple Spreadsheet - Track expenses in a spreadsheet, keep digital copies of receipts in matching folders.

5. Add Notes - Always write what each expense was for saving time at tax season.

This deal can make sense if you’re okay paying out of pocket for a while and you're confident about the upside.

Right now, you’d lose about 315 dollars each month once you get the units to market rent. That’s not terrible, but it does mean you'll be feeding the property from your own wallet, at least in the short term. For some investors, that’s worth it if the location is strong and the building's value is likely to rise.

The fact that you’re buying under market value is a plus comps at 890 to 1.1 million give you built-in equity if you can actually get those tenants out and the units re-rented fast. That’s your main leverage here.

Still, a few things to watch out for: getting rent-controlled tenants to vacate is never a guaranteed thing. Even with signed paperwork, delays or legal pushback can eat time and money. Also, your expenses might creep higher repairs, surprise maintenance, or longer vacancies can widen that 315 dollar gap.

In the bigger picture, this is a classic trade-off: small negative cash flow now for stronger appreciation and cash flow later. If you have savings to float the negative each month and a realistic plan to push rents or improve the building, it could pay off well over time.

If covering a loss every month stresses you out, you might want to run more conservative numbers or keep looking for a deal that pays for itself from day one.

If you want, share your planned mortgage rate, down payment, and any renovation costs. I can help you check if the numbers still hold up.

Honestly, looking back, I wish someone had told me how important it is to really lay down the rules and stick to them. When I got my first Airbnb, I was just excited to get bookings and make extra money. I didn’t think much about who was staying.

Pretty quickly, I learned the hard way. I had a group say they were coming for a quiet weekend turned out they threw a huge birthday bash. Neighbors called me in the middle of the night, and I had to deal with complaints and extra cleaning bills.

Now I’m super clear in my listing about no parties, quiet hours, and I double-check who’s booking. Another thing is I didn’t realize how much small stuff breaks. Light bulbs, coffee makers, door locks something always needs fixing. I used to run over myself for every little thing, which ate up weekends and evenings.

If I could do it over, I’d find a good cleaner I trust, a handyman who can fix things without me there, and set up a good guidebook for guests so they don’t call me for every tiny question.

According to the National Small Business Association, about 42% of small businesses in the US use a dedicated business credit card as a basic tool for keeping finances separate (NSBA Small Business Access to Capital Report, 2023). The IRS also reports that clear separation of personal and business expenses is one of the top things they look for if you're ever audited. It's an easy red flag if all your STR stuff runs through your personal card.

Plus, the average American small business puts $30,000–$50,000 per year in expenses on a business card (Federal Reserve Small Business Credit Survey, 2023). For an STR, you might easily spend $10k–$25k just setting up furniture, décor, and supplies. Putting that on a rewards card can earn you a few percent back which adds up.

It's not required, but it's pretty standard for STR owners who want clean bookkeeping, tax simplicity, and a little extra cashback. Just use it only for legit business expenses, pay it off each month, and you'll be glad you did.

It’s not strange at all to live right next to your own rental. I’ve helped a few clients do the same thing. It’s almost like having a duplex but with more privacy. The big benefit is you’re close enough to keep an eye on things and handle problems fast if needed. The only thing to watch for is that tenants might treat you like on-call maintenance if you don’t set clear boundaries. Make sure you handle it just like any other rental and have a solid lease, clear rules, and treat it like a business. If you’re comfortable with that and the deal looks good, I’d say it’s a smart move.

If you’re in Cedar Rapids and looking for a solid way to screen tenants without spending a ton, there are a few great options. Platforms like Avail and TurboTenant let you run full background, credit, and eviction checks without charging you directly—the tenant covers the screening fee, which is usually around $45–$55. RentPrep is another affordable choice, offering basic checks for about $21.95 or more detailed reports with credit info for around $40. SmartMove by TransUnion is also reliable and tenant-paid.