@Candor RealTo manage a short-term rental property effectively, hire a local property management company, use smart home technology, build a support team, conduct market research, choose a desirable location, set aside an emergency fund, and invest in insurance.

If you were shopping and this house and a thousand others like it are available for basically the same price, is there anything that could be written in the title of your place that would cause you to choose it over that one?

When providing a lease renewal we provide 4 options - sign a 1 year lease for a lower increase, sign a month to month at a higher increase, submit a move out notice if you wish not to renew, or choose to do nothing and receive the highest rent increase (with a clause that once they select from the other 3 options the rent amount will be adjusted accordingly not not made retroactive)

Just choose the right market for you that would help you become the most successful! 

@Jaron Walling   your comment about not affording to mow the grass or change a light bulb means you are not choosing tenants on Section 8 with Income.

- I believe we looked at about 30 by the time we found this one. 2) Why did you choose that market?

I specialize in helping investors grow their portfolios strategically, and your skill set would be a great asset in this space.Best of luck with whichever path you choose!

They certainly won't matter if an owner chooses to redeem his or her property.

Should I have agreed LOI terms with all 3 properties and sort of "lie" that we intend to use them for our contract even though we are only choosing one of three?

If you grow you eventually will probably choose a separate company to market yourself through anyways.