I own a MTR management company in Los Angeles, currently managing 27 properties.

When the credit report addresses don't match her application, you deny her and move on.Any landlord running a credit check on her after 05/01/2024 will see her credit report has a $12,000 collection from a property manager, and that should be an automatic denial.

We're an appreciation market, not as much of a cash flow market here, unless you're putting a large down payment or actively managing STR's.Buying out-of-state can get you more cash flow, but the tradeoff is less appreciation (usually), and cash flow can be eaten up by maintenance and expenses.

Thats a lot of work that a company would have to do and they would want their money back on the development costs.

I also recommend you start looking for a professional property manager, at least until you educate yourself enough to run this solo.

If the repairs are manageable and you’re getting at least a 10-15% discount, it can be a great deal—but avoid properties with major structural failure or uncooperative sellers.

As the owner of a property management company in Washington, I have encountered this situation before.

The developers pushing agents to sell one of their townhouses as a STR really inflated the asset cost cause they were pricing it on a revenue structure, not asset.

Then you can self-manage and learn all about tenants, contractors, etc. 

My wife and I started managing more properties for others as word of mouth recommendations started and we started to use the management and arbitrage cash flow to acquire our own properties and fund the BRRRs we were working on.