Considering the hassle that the 9% tax is, and conforming to the attendant details, I found owning a rental was not enjoyable at all. Recognize that for all the many months that there is no rental income you still have all the insurance, utility bills, taxes, bond, lawn care, pest prevention, upkeep, etc. You can depend on renting it for four months a year. Anything more is a bonus. The only way I would consider purchasing another property for rental purposes would be on a long-term lease basis for a minimum of 6 months. Some will believe they are making money on rentals until they actually do it correctly with the input of an attorney and CPA. All of a sudden the disappointment sets in. Those who supply a golf cart with their rental are, as my attorney puts it, "Simply Fools". Discuss that point with your attorney before listening to some "clever ways" around the liability issue. They won't work in case of an accident with the cart. There are much better investments if that is your goal. Be very careful. Just my opinion based upon experience here.
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