STR is becoming a difficult strategy because there are so many costs (furniture maintenance, utilities, internet, etc.) that you have to factor in and if you are in an oversaturated market, then unless your property is unique, you can only compete on price.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Unless perhaps you're buying a multi-million $ unique home. 

However, it also comes with unique challenges.

You can still work with an unlicensed person, as long as they know what they are doing, and you can hire a licensed representative if you have to fight the IRS later.The single most important factor in selecting your tax person is technical competence.

I have a company that builds unique European-style cabins.

Real estate has unique tax benefits, such as depreciation and 1031 exchanges, which can help lower taxable income.

I’m currently selling a unique Airbnb property in Cabo San Lucas, Mexico, which is partially constructed but operational with two rooms.

Sellers should focus on emphasizing the unique value of their properties to attract the right buyers in this competitive environment.A significant change has been observed in the median time to contract, which has jumped by 71.4% to 48 days.

Multi-family without separate meters may need more unique billing arrangements such as passing the costs through to each tenant on a square footage basis.As far as insurance, landlord will have to maintain their own insurance per mortgage requirements.