:KPIs is what you need to be watching, and you have to have some retained earnings before you try them.

When it is completed you can either decide to flip or rent.

Easy!"

If they change their mind about selling the home, you will have to foreclose to get paid back.

Are you using a software because your tax preparer told you to?

I listen to a lot of pod casts while I am doing other things so not always paying attention to which podcast it is.

Hi All,I would like to avoid providing keys to the tenants and just have them setup and control the codes for access.

Crazy easy to keep clean.

If so, why not just sync the statements there so it can track all the expenses that you use Stessa to track?

Setting up the right entity (LLC with possible S-Corp election) can help reduce self-employment tax exposure.Long-term rentals reintroduce passive activity rules, but combining them with STRs or qualifying as a real estate professional in the future can unlock additional tax strategies.Regardless of the path, detailed recordkeeping of travel, supplies, contractor payments, and property expenses will be critical to maximize deductions and defend them in an audit.Starting with STRs is a strong move because the tax code gives you more flexibility to use losses and deductions against your active contractor income while you build equity.