These can provide good cash flow and are easier to manage than larger commercial properties, especially when you're just starting out.Also, when I was starting, I found local meetups super helpful.

There's a lot of discussion about managing a STR from a distance.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

We set up our CPA, LLC, website, marketing plat forms (social media), investor (sponsors) list, I have an operation manager, acquisition manager, and myself leading the charge.

Practical Tips for Managing PropertiesFinding Good Tenants: Screen thoroughly.

Either myself or project manager wen I don't have time, because most contractors need daily supervision.

If you are managing this yourself, you are off to a great start.

My manager is largely responsible for that. 

Just started our own firm investing in and managing property in our relatively new (~5 years now) home in Charleston, SC.Happy to be a resource to anyone and look forward to making quality local connections!

I manage properties with both - but I recommend pots (although at home I use Keurig).