This enables our vendors to purchase in bulk from manufacturers, cutting costs and ensuring materials are always available for immediate project starts.

.* Ensure them that security deposit (minus expenses) will be repaid within 7 days (much faster than statute) so they know we're on the up and up too.* Try to do a preliminary walkthrough prior to them moving out so if they want to fix/patch anything prior to the final move out, they can.Lessons learned and thanks for the advice all.

You'll also want to ensure you have a good property manager to look after the upkeep of the property if you are not there to notice anything deteriorating or which may need attention.Creating an LLC in California could cost you a minimum tax of $800 every year per entity. 

Same for 2-years of job/income stability.Tenant Default: 10-20% probability of eviction or early lease termination.Section 8: Class C rents usually meet program requirements, proper screening still recommended.Vacancies: 10-20%, depending on market conditions and tenant screening.Cashflow vs Appreciation: Should cashflow immediately, at the lower end of relative rent & value appreciation.Class D Properties:Tenant Pool: Majority of FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, but should have no convictions/evictions in last 12 months.

Property management is caring for the property and ensuring that the tenant enjoys the proper use of the property and that your home remains compliant with rental codes.Tenants placed in low-income areas tend to have "Special needs" and often require coaching and support. 

Also, when signing any new leases, I recommend ensuring the term is slightly longer than one year.

The good news is that you already have financing in place and an agent to guide you, which are two major advantages.The key is to ensure the numbers work before moving forward.

Outside of that, the benefits of proper entity structuring generally outweigh holding property personally, particularly in the long run.

I feel like every host knows the basics — comfy bed, strong WiFi, blackout curtains…But some of the BEST guest reviews I’ve ever gotten came from the small touches no one talks about.For me, the “secret weapon” is a REAL workstation:🪑 ergonomic chair🖥️ proper desk🔌 easy-access outletsExecutives and work-from-home tenants go crazy for it.I’d love to hear yours:What’s one furniture item guests love that most hosts overlook?

On the flip side, others like to secure the property first and then finalize financing to ensure the deal is exactly what they want.