Listen to your Mentor, hire a different tax guy.

They hire a local management company to handle property management.  

However, there are some challenges to keep in mind:Regulatory Variations: Regulations can vary widely between locations and are constantly evolving.Active Management: STRs require more hands-on management for guest turnover and communication.Additional Costs: Don’t forget about expenses for furnishings, cleaning, and possibly hiring a property manager.If you’re looking for STR-friendly areas, consider these locations, as others can be too expensive to consider, such as Snowmass Village or Aspen:Breckenridge: The most visited ski resort in North America, attracting around 3 million tourists each year.Steamboat Springs: A popular year-round destination for winter sports and summer activities.Keystone: Great for those wanting a less crowded resort experience.Divide & Florissant: Charming mountain towns close to Colorado Springs.Fairplay: Just 30 minutes south of Breckenridge, with an impressive 82% Airbnb occupancy rate.Cripple Creek: A former mining town now known for casinos and outdoor activities.Park County: Very Airbnb-friendly, though regulations may change.Here are some strategies to help you succeed in the STR market:Hybrid Model: Consider using some units for STRs and others for long-term rentals to balance income.Research Local Regulations: Always check the current rules in your target areas before investing.Year-Round Appeal: Focus on locations that attract visitors in all seasons.Quality Furnishings: Invest in quality to justify higher nightly rates and attract better guests.Dynamic Pricing: Use pricing strategies to maximize revenue during peak seasons while maintaining occupancy in the off-season.Stay Flexible: Be ready to adapt your strategy as the market and regulations change.While Colorado’s STR market offers exciting opportunities, it’s essential to approach it strategically.

I'm currently buying properties for myself out of state and hiring property managers - I would plan to do the same here, so my role would not be particularly hard or intense. 

We appreciate it, even if we’re not hiring you.

If you find yourself too bogged down from too many rentals, you can hire a bookkeeper for a couple hundred dollars per month to manage all of this for you.

His attorney said in order to provide a clear title, the seller would have to hire a law firm that was willing/able to do extensive research into heirs, and get them to sign off/away any rights they might have.  

@Jacob Swihart if you hire an agent to find a tenant - do NOT let them screen them!

Here are five important things to consider when making your decision:Certifications & Licenses: Hire a firm with AMO accreditation and CPM professionals to ensure best practices and ethical management.Local Experience: National firms aren’t always better.

I know that I could hire a PM so that I never have to deal with tenants personally.