@Pete CorderoPete, I’ve seen a lot of investors weigh “Build to Rent” communities versus traditional mixed neighborhoods, and here’s the practical take: these new developments give you modern, turnkey-ready homes that need minimal rehab, which is perfect if you want consistent cash flow without the headache of repairs.

Before retiring from work as an attorney, I lived and practiced law in the West Texas area for over 40 years.

The practical reason behind this question is because even if we start building a house right now, it will not be completed by January 1st and I’m hoping to capture the tax benefits (deferral) for 2026.  

You could certainly try to hold the vacating tenants liable for the remaining balance of the rent due, but in practice it's going to be difficult to actually enforce.Double check your lease about occupancy limits but yes you can set a limit for how many people occupy an apartment you own.

You technically don’t need to give notice to enter common areas since those aren’t part of the tenant’s leased premises, but it’s still best practice to give a heads-up if you’ll be doing something disruptive (repairs, inspections, etc.).If tenants are using common spaces for personal storage or plugging in appliances, that’s definitely something you should address.

In my private practice, I specialize in anxiety and communication, which translates so well to this work.

I am looking for some best practices regarding the lease.Do most STR require 30% down and final payment before the stay? 

In the meantime, start practicing by looking at properties, analyzing ARVs, rents, and market trends, and getting familiar with the neighborhoods and overall layout of Memphis so you understand what you’re buying.

Quote from @Levonte Wilson: Hi everyone,I’m a new to real estate currently learning the ropes and trying to understand how creative financing actually works in practice.

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney.