Communication is key!

I’ve received a number of responses from investors essentially stating that they use a simple buy/rent/hold approach in small residential properties, and have accumulated net worths in the 1 - 3 million $ range starting with just one mortgaged SFR. 

I am about to submit to the IRS my log of 500+ hours working in the STR business, most of which come from communicating with guests, cleaners, maintenance people, Airbnb, VRBO, and managing supplies, shopping, bill paying, pricing, calendars, all the daily and weekly tasks. 

I have allowed them to do this for the past six months, and I haven’t really received a valid excuse or reason why it’s happening besides a simple “sorry.”

It sets an expectation and is a form of communication.

They immediately stopped paying rent and stopped communicating.

Hi William,Sounds like you had everything you need to for a simple case however, this case seems more complex.

He communicates only via email and only up until 10am est.

If you were smaller, maybe 1-3 projects going on at the same time, I would have suggested something more simple and free which is to simple open a separate checking account for each project.

If you don't want to deal with any tenant communication, you can use property management companies.