They have been managing fine, although not too busy, I guess because of the market.

Most businesses, property management or not, fail due to the lack of sales, not due to the lack of systems and phone etiquette.

Two are for businesses, one for commercial property, one for residential property.

Just my personal opinion - get a mentor or a person who already has good experience running STR business, preferably in your area (but not 100% required). 

So thats the reality from my point of view I made a business out of this for many years and my dad made a business out of this in the 70s through the 80s so lots of experience at it. 

Unfortunately, the only guarantee in this business, or any business really, is there are no guarantees of outcomes... ever.  

Lau, generally if you are financing with a commercial lender- we lend for business purpose only and a rental property would fall under that category.

If millenial homeowners can't even change their home's air filters, or snake a toilet, or change the oil in their car, that's guaranteed future business for HVAC companies, plumbers, mechanics, and those places all need a place to conduct business in.The commercial mortgage pricing software I use has somewhere around 50 different asset classes in it.

Quote from @John Lasher: I've heard from so many investors that they have put a pause on their flipping business.

College isn’t a must for real estate, but it can definitely help with things like business, marketing, and communication skills.