A couple of years ago there was an excellent long article on BP about all the things to look for and ask when interviewing property managers. 

A major part of the success or failure of an STR investment is the design, furnishing and management plan.

We use private lending to finance the purchase and construction of this home.

Whether you’re managing properties, operating STRs or long-term rentals (LTRs), or just have an opinion on the state of the market, I’m eager to hear your thoughts and any new developments you’ve noticed.Here are a few things I’ve observed:Increased Supply of RentalsI’ve lived in Gainesville for a while now, and I remember a time when it was tough to find a rental.

That makes the investing and property management a LOT easier.  

@Steven Wetherillwhat about property management?

It took quite a good time (~6months) even with a property manager but finally found the renter after rent decrease by 200$.

He usually buys in C neighborhoods and has to do heavy rehab, but he's a construction guy that also runs his own property management company, so it's 2nd nature for him.

Buying a turn key rental, in an area you know or knew well, with a property manager you've met and trust, in an area that is large enough for you to have other options to find contractors and property managers? 

Most traditional property managers don’t handle this setup due to challenges like managing tenant disputes, coordinating overlapping move-ins/outs, and the risk of Fair Housing violations when selecting tenants.