It was all really quick, and the time to complete everything happened a lot faster than I expected (which was a good thing).I was worried at first that I had to use all the partners that Rent to Retirement had, but it was really easy for me to shop around for different lenders with different terms and rates, insurance providers, and property management company.

Consider reaching out to a local Rental Owners Association to connect with experienced hosts, gain valuable insights, and access resources that can help you navigate property management more effectively.

Do managers that advertise 8% only do 8% when there's a bundle of doors to manage?

Also, any advice on managing budgets for PPC in the real estate sector would be really helpful.Thanks in advance for any insights. 

I have 0 experience managing STR properties, but lots of experience using Airbnb from my travels 😅 I am halfway reading Avery Carl’s book on STR.

A bonus is if that company also manages and will stand behind that property after the sale to an investor like you.if you have the time, desire, risk tolerance, and knowledge, you can absolutely find and or create deals on your own.  

This is why I also use REIReply/GHL, if I didn't have amazing automatons within Zoho and I needed another CRM.

Written by attorney investors, it's full of practical advice about the management of investment property, has sample forms that can be edited, and - most importantly - tells you what your primary state laws are and where you can read them.

The other contributing factor was the poor property management and sponsor asset management of the properties.

Here's the deal:Purchase Price (PP): $95kRenovation Budget (via HML): $60kTotal All-In Cost: $155kARV (After Repair Value): Around $200kRefinance (via DSCR Loan): 7% interest, 30-year fixedRefinance Details:After the refi, I will pay back the Hard Money Loan (HML) at 11.95% with 3 points:HML: $60,000Interest/fees: $3,585Other costs: $1,800Total to pay back HML: $65,385After the refi, I will have $84,615 left in cash.Cash Flow & Expenses:Expected Rent Income: $1,700/monthProperty Management (PM): $126/monthInsurance: $100/monthTaxes: $126/monthMortgage: $1,043.75/monthTotal Expenses: $1,395.75/monthSo my monthly cash flow is about:$1,700 - $1,395.75 = $304.25/month in cash flow.Return on Investment:Cash Invested After Refi: About $18,385 (after paying off HML and closing costs).Annual Cash Flow: $304.25 * 12 = $3,651Cash-on-Cash Return (CoC): $3,651 / $18,385 = 19.8%I didn’t account for maintenance costs since it’s a full gut rehab, and everything is brand new.