Short Term Rental (STR) startup out of state questions

[Charles Jones]

We are about to close on a duplex that's been used as an STR. We live in a different state and want to manage it ourselves, but are nervous on the startup process. I have read many great posts about using yourporter & turnoverbnb as well as ownerrez. My concerns are what challenges you have faced in first starting up, especially if you were not near the property? I really do believe once we get over the first few months, it'll be a piece of cake. Oh and this is our first investment property too! so super excited and super nervous. Thanks everyone

[Collin Hays]

When I set up a new property, I go out and spend a week or two and get it fixed up. There’s always things that need attention.  I like to spend a night or two at a new place to evaluate it.  Where furniture needs to be, what needs repair, risk management issues (very important).  I’ll gather up furniture, antiques, decor etc., and have it shipped to a storage facility awaiting my arrival.  I buy most of it on eBay.  You’ll also want to meet and shake hands with contractors and housekeepers that will be helping you.  

Probably your biggest ongoing headache is going to be housekeeping turnover.