On the flip side, there are considerations like licensing, insurance, and ensuring the property meets safety and compliance standards.I’m curious if anyone here has had experience landlording in sober living or other group housing models.

I’m excited to finally jump in here after lurking for a bit and soaking up the value this community shares.By day, I’m an insurance advisor helping real estate investors, flippers, landlords, and contractors make sure their properties and businesses are properly protected without overpaying.

One approach could be to reassess your listing to ensure it stands out.

We've found it has superior reporting features, integration features, and is overall more efficient to work within than other REI-specific software.The downside is QBO is not set up for REI so you'll need to do that or work with an expert to ensure it is set up for your business appropriately.

., booking management, repairs, advertising, tenant communication), as the IRS may closely scrutinize these claims.Keep supporting evidence such as receipts, invoices, emails, or calendars, which can strengthen your position.Differentiate personal use vs. rental use of the property to avoid reclassification issues.Understand potential recharacterization risks—without proper substantiation, the IRS could reclassify your STR income as passive, resulting in additional taxes, penalties, and accrued interest.Review annually with a tax advisor/EA to ensure your activities align with current regulations and to optimize deductions (e.g., depreciation, repairs vs. improvements, start-up costs).Failure to follow these requirements can significantly weaken your position in case of an audit.

Same here, do a quick search during DD, then get a professional report  prior to the trade to ensure nothing was missed.

We pay close attention to the loan docs themselves and the assignment chain and alonges to ensure they are in tact.

In order to set up what you are trying to do properly, you need an attorney AND a CPA who agree on strategy and structure so things work in tandem. 

Quote from @Mackaylee Beach: It's important to strike a balance between having adequate reserves and ensuring your capital is working for you.

You want to review all the HOA docs to make sure the community is properly managed/ maintained so you don't run into issues like special assessments or Fannie Mae noncompliance.