And at the top, you need three key people: an artist (to deliver a great product), a manager (to keep things running smoothly), and an entrepreneur (to drive it forward).

Is it possible to have a property manager who manages some of the property, while I manage the rest remotely?

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

Hey Rebecca, I'm a broker and investor up in Sacramento and manage about 100 investment properties (STR and LTR).Many of my clients are high W2 earners seeking "bonus depreciation" to offset tax liability by investing in STR.

I’m also curious about the pros and cons of managing short-term rentals versus long-term tenants, especially for clients who are new to real estate.I’d love to hear from those of you who’ve been down this path before.

If you can find an investment that pays for itself, you won't be so nervous about investing.I also recommend you educate yourself on how to manage well.

As someone who occasionally works with these investors, I always try to emphasize the challenges that come with real estate like managing renovations, dealing with tenants, and navigating market fluctuations.

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.

Reqauest a refund from them verbally and in writing and  continue to follow up and  go up the  management  chain if needed . 

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