I also don't want to focus on one market, and not be able to score the right property for who knows how long, and then end up missing out on other locations, as being a long distance land lord is very popular as well.

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.

If the negative cash flow is manageable and the appreciation potential is strong, it could be a smart move.On the other hand, investing out of state allows you to enter more affordable markets with strong, steady returns, helping you to build a diverse portfolio over time.

I self manage enough properties that I doubt they would question me meeting the hours.So I don't keep a time log.

When I worked with a property management company, we had someone buy a unit (single family) that had a STR and marketed it as a STR.

If there’s a significant difference, it might justify the cost of adding more beds.For example, we manage a 4BD property where one bedroom is currently locked off, so it only sleeps 6 (1 king, 2 queen).

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.

I used Hostify and you can work it into the management system to figure and charge all of that for you.  

I am not sure what companies are quoting you, but you should shop more.Make sure to have the location of where is showing the cracks so you can get a more accurate repair estimation.I have some contractors that I can recommend.

I have only 3 doors that I manage so not a big time player so wanted to start with some cheaper software and I heard on the podcasts that RentRedi was included in my pro membership so I signed up.