You will get the deposit when the transaction settles and you don't want the tenant coming back later saying it was more.Try to get pictures of the property before the tenant moved in to establish move-in condition.

Established brands will generally have the nod over mom/pop as noted.

@Akku Kumar, I recommend establishing your budget first.

Everything could be managed remotely but you still need a person to inspect the property every month or more frequently during stabilization and less frequently afterwards.Being a small-sized but with well established and automized STRs gives a better service comparing to middle size where you are just another client.

Establish better future procedures and enforceable protective language in your lease.

We dont deal with one off JV folks we only look for those that I can establish long term repeatable business with.

Consider adding features that support a communal and supportive living environment.This is a good start, as renting properties to sober living homes in Colorado involves thorough preparation, understanding legal requirements, and establishing connections with reputable operators.

Setting up automatic payments for recurring expenses or using online bill pay services can help ensure that bills are paid on time and reduce the risk of missing payments.Overall, the key is to establish a consistent process for tracking and managing expenses for each property/entity to effectively manage your funds and ensure that expenses are properly allocated.

Do we have a meetup established?

I am contemplating establishing an LLC to run the properties through.