Sit down and hash out every detail and put it in writing.

Quote from @Tommy Adeoye: Fantastic transition from STRs to boutique hotels.

There's a lot of timing to consider, and honestly, this potential first cost segregation will be a learning experience for us. 

Purchase price: $645,000 Cash invested: $60,000 Two Unit property with lots of living space3000 sqftOne parking spotBrand new kitchen addedW/D in both unitsGood for Long term / Mid Term / Short Term What made you interested in investing in this type of deal?

We have been around the bigger pockets community for over a decade now and have more 5 star reviews on bigger pockets than any company on this website in any industry (>270 5 Star reviews).

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

You should have a MAO to this deal.

Self managing is a solid way to learn the business, and it’s smart that you’re already setting up systems and tools. 

In fact, some of the best opportunities in real estate come from properties that others overlook—distressed homes with potential that just need the right investor to bring them back to life.If you’ve been in the game long enough, you know that distressed properties can offer huge upside, but they also come with their own set of challenges.

What made you interested in investing in this type of deal?