For payments, tools like Stripe, PayPal, or booking software like OwnerRez work well.Happy to connect if you’d like to chat more or need additional tips!

Since seller-paid fees usually cover their services, you get local expertise without additional expenses.Final ThoughtsLive where you like, but invest where you can achieve financial freedom.Out-of-state investing has proved to present excellent opportunities.

Supplement this far simpler entity approach by ensuring you have appropriate types and levels of insurance, you operate your business in a manner in which your conduct is not considered an exclusion in your policy, you work with licensed and insured vendors, you execute contracts with indemnification clauses with these same vendors/ require additional insured status &  maintain appropriate licensing and permits.

Your best route might be to buy a 2 to 4 unit property that you can live in and rent out the additional apartments.

Last thing thougt of is have a little box of books and toys for little kids parents always appreciate it. 

To give you an idea of how we approach it, we assume the worst-case scenario right from the start is 9-12 months of no rent, $5,000 in legal fees, and an additional $5,000 in expenses to deal with moving their stuff, putting it in storage, and dealing with health code violations or NOV's from the city during the process. 

Additionally, since my parents are nearing the retirement age, I'd like to prioritize low-debt, high-cashflow deals.

Does anyone know a property manager that supports small self-storage rentals in addition to residential rentals?

The PMS around here are pretty terrible, I've worked with a lot of the larger ones in Cleveland and I think they just take on more properties than they can effectively handle and don't hire enough additional employees to make it work. 

These are professionals with additional training and a stricter code of ethics.