We were able to get the properties and put in some sweat equity and they were able to take a non producing asset and get an instant income back for a season.

In that case, I would text/call the instant you realize that someone else is on the property...before they get comfortable. 

I require Guests have ID Verified; I don't require a profile photo (those shown after booking, if there is one).I use Instant Book; I require "Good track record" and I require the Guest to respond to my Pre-booking message before they can book.

Enough exposure to the LL industry to know whether you'd choose to continue to self-manage or to outsource the job as your portfolio scales... with the added benefit that you live on property and thus can instantly get over to your rental unit to assess and/or handle any issues.

Damn 40-50% Cap Rates for SFH - I must be doing something wrong here Most of that response was just way too scatterbrained for me to dwell on...so I missed that last part about the 40% cap rate.

I understand that renter's insurance will not cover damages to dwelling hence my concerns.

But google tells me that, although there are Dodd-Frank regulations on prepayment penalties:For mortgage transactions, a “creditor” is defined in the regulation as a person who extends credit secured by a dwelling more than five times in a calendar year.

It’s been a kick to my shins whenever I think of it but I knew that going into it. ( To help recoup from this downside I plan to convert the depreciating vehicle into an appreciating dwelling by removing the axle/wheels and all things that make it mobile - And to build a foundation for it that is permanent) I believe someday soon I will have a good property in which a converted RV can be a incredible looking guest house in the back.

Hey @Hong Zhu, so do you have instant booking turned on?

I don't have any debt I can't clear instantly.