They take good care of the properties, but there's not enough attention given to pricing strategy and they spend money like nobody's business (not a problem when they were spending their own money on the master lease model, but a BIG problem when they were suddenly spending OUR money as the PM).

If you are using STR, REPS, or self rental with material participation to convert to active or nonpassive income, you do not have to do this if you have passive business invesment that produce passive income that will exceed the loss generated by depreciation.

And personal downsizing is always good for business!

What aspect of their business, the property managment software or investment management software.

This will set up your buy and hold business long term. 

That’s how the wealthy do it with real estate or businesses.

CA really cleaned up the fractional note business from my days of doing it in the 80s..

I also own a water restoration and general maintenance business in the area and the amount of STR owners that we have spoken with is insane.  

Our goal is to have a short term rental business and build it over the next several years.

I checked the Better Business Bureau for complaints, I checked the NJ State Attorney General consumer division to ensure he was licensed, I checked every reference he gave by visiting sites and speaking with the homeowners.