Again, it's about establishing a connection. 3) We did a property walk-through.

@Nam PhamContracts: Have a detailed contract outlining the scope of work, deadlines, payment schedules, and materials to be used.Updates: Establish a schedule for regular updates, such as weekly calls or video conferences, to discuss progress and any issues.Project Management: Utilize project management tools like Trello, Asana, to track progress, manage tasks, and store documents.Documentation: Request regular photo and video updates.

Younger folks in the process of building their portfolio are likely to accept a higher level of risk than older folks with more established estates.

@Megan Stone good to hear this attorney offering you excellent advice even though it isn't in their 'best interest'.I've always established my commercial RE LLCs in the state of the asset.  

I'm willing to bet money that there are some Bay Area people that regretted selling.Would run the numbers with different scenarios and evaluate this carefully, maybe with your tax advisor too. 

Establish good communication and relationships with your tenants to foster a positive renting experience for both parties.

Try to establish relationships with common services needed for your property, such as, plumber, electrician, handyman, septic, lawn, locks, etc. 9.

Consult with your tax advisor on the requirements so you are compliant with tax laws.

- Establish consistent routines

I'm at a full understanding that best practice with hotels is to separate the property from the business by establishing a separate operating LLC (Operator).