Share your risk management strategies and lessons learned.

I have the template from the BP "Book On Rental Property Management" and will use it as a starting point but need some additional language. 

Better down payment options, you live in the property you rent which makes management 30X easier.

Are you self-managing?  

I have owned Vacation Rentals and my company managed about 20 and the experience was terrible.

It takes time to learn and configure it for rentals, it's just not nearly as good as a tool that is custom-built for managing rentals and rental finances. 

I’m confused about the off site management though?

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

So, those risks need to be managed well, which is the main reason why I don't do them.Good luck.

Make sure the money you receive from rentals pays for all of your out-of-pocket costs, such as upkeep, insurance, taxes, and mortgage payments.Underestimating the Outlay: Add up all of the costs that come with owning and operating rental properties, such as capital expenditures, repairs, vacancies, and property management fees.