@Jingru Sui
I can personally see a lot of benefits to being on both sides of these deals. In either case, it comes down to doing a good job at what you do.
STR arbitrage doesn't have any of the appreciation, tax benefits, etc. that comes from ownership but it also doesn't come with the initial financing investment or rehab. There are a lot of people on here that don't have an appetite or respect it, but everyday property management firms fall into the same scenario.
As an owner of rentals, it would come down to who the management partner is. I personally like the idea of having my units professionally cleaned and inspected multiple times a month (if not weekly.) All of the wear and tear items I saw in the thread are no different than those found in long term rentals at move out time.
I think there is a market for what you are looking for and it's no different than a developer bringing in a hotel management company or apartment leasing team to run a property. I can also think of advantages like not having franchise fees, national branding issues, rent escalations can be built in to long terms leases more easily since the lessee is a professional, your property is faster and more quickly to adapt to which STR platform is working at any given moment, the lessee is more likely to be financially capable of paying for damage to the unit, etc.
I think if you got to a high enough unit portfolio, developers would entertain the idea of having you run entire properties or even doing build to suit with you as a partner. A comparison would be condo projects that slowly transition into time share properties and then into hotels.
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I didn’t realize I had so much to say! Good luck! I’m glad as a community we worked through the initial negativity.
