I randomly got an email from @Eric Fernwood that showed how a negative cashflow rental could provide a 19-20% annual IRR return even after selling costs because of the increased rents and appreciation.

It’s a great reminder to trust your own due diligence and not let others make critical decisions for you, like hiring a property manager.For future investments, building a trusted team and maintaining direct oversight is key, even with remote deals.

These agencies began calling me non-stop, demanding I fix the heater immediately and provide the tenant with hotel accommodations during the repair period—or else I’d be issued tickets and face daily fines.I won’t go into detail about how I feel, but anyone in my situation would feel like they just swallowed a bitter pill.

You can use the Bigger Pockets management finder tool to look up MTR management companies in the area and then I have a few recs I can provide if you are interested.Shoot me a message if you would like to discuss further and I can help you strategize to make sure you make the best decision possible!

Any guidance you can provide as we navigate this process would be incredibly valuable.Looking forward to connecting further!

Also note that my company will possibly either cover closing costs if we sell or provide property management for two years if we rent.

Happy to connect and provide some feedback if interested.

Are you just using a number like AirDNA provides or have you dug in and found comps? 

This amount provides a reasonable safeguard against potential claims if something goes wrong, like an accident or damage to the property caused by the tenant. 

I would be very careful in working with a 1031 Exchange Qualified Intermediary that provides ("sells"0 replacement property solutions as part of their services.