(There are tax accountants who say there's actually an eleventh commandment: Thou shalt not put real estate into a corporation.)Finally, and not to highjack this thread, but in another thread we've been discussing how nonpassive losses (such as from real estate) can shelter any other type of nonpassive income including IRA or 401(k) withdrawals.

Even if you make your place immaculate, it may not command that much higher rent because the area doesnt support it.

In the Bay Area, sales simply command a premium over rentals.

Typically, furnished rentals are for shorter term stays, so the tenant is most likely going to be able to deal with whatever your style is.Should be able to command much higher rent depending on the area for a furnished rental - minimum of 50% more than LTR.One option could be to lease the house and sell / lease the furniture in a separate bill of sale / contract.

My house is walking distance from UNCG, and a furnished room with a shared bathroom can command around $800 to $900.

The $1,500/sq. ft. estimate seems reasonable since 4 Dewey Ln and 597 Beavertail Rd support that pricing.One thing to consider is whether any of the comps had unique features or lot premiums that could push their price per square foot higher than what your property might command.

I have no experience with command strips.

The better the experience, the higher the price tag.Investors who take the time to design with their ideal guest in mind don’t just get better reviews—they command higher rates without competing on price.Think of the BEST review your STR has received.

Renting the PropertyIf your parents rent out the home, they have multiple income-generating opportunities: Renting As-Is: A 4-bed/2.5-bath home in a desirable area could command a high rental rate, likely around $2,500–$3,500/month, depending on local market conditions.

I get asked how I do what I do, this is one of my commandments, I don't have a "no", "no" = yes by other means.