Right now, the buy-in is so high in NJ, they are locking up deals at prices that aren't sustainable and chasing spreads that are way too big.

There are solutions to the challenge of managing your property. 

That's exactly the kind of alternative solution I was looking for.

I would invest in a market that will sustain STRs and is a tourism destination. 

Better hire NY lawyer for consultation and ask the solution

They will provide you quick financing, almost always interest only, then allow you to exit the bridge once the long-term solution is ready without penalty.The main goal of the bridge loan is to provide a quick financing option for a property prior to the final financing being ready.

Grace Property Management is pretty decent.As for the draining of the buckets, simple solution. 

There are teller notes on all my rent payment accounts alerting bank staff not to provide a balance on the slip if it is not the account owner making the deposit.I have used this system for 10 years with multiple buildings and dozens of tenants without any issues.What a marvelous solution.

At that point, it's worth researching and finding a solution that better meets your needs.

Will just help you out as you shop around.Final note: if you liked working with this PM (other than the lack of communication on maintenance), maybe ask them for quarterly pics/etc of different parts of the property in order to find a solution to this issue for the future.