Yep, gotta have a great PM that will not only handle the management, but coordinate renovations, turnovers, aquisitions.Go meet them, look at a few of the properties they manage, ask about their systems, processes, etc.

We want to detail the responsibilities, capital contributions, profit and lost sharing percentages, decision-making process, have dispute resolution methods, and exist strategies.

Consider bringing in an experienced property manager, contractor, or mentor to guide you through the process.

It's an awesome way to jump into RE yes its scary at first but as long as you have a criteria going in it eases some of the emotions during the process my biggest thing was lower my cost or keeping it the same.

We had a mentor guide us through the process.

I’m in the process of managing 18 units and have a full-time job.

However, going to the unit, seeing what needs to be taken care of, writing it up, submitting to a manager, going to Home Depot and then doing said work takes time. 

Skip tracing LLCs is a double skip process.

Determined to avoid such mistakes in the future, I earned my real estate license to better understand the buying and selling process.

As an agent, I personally would love to hear your thoughts on how the implementation of AI will affect agents system processes or how it already has, however I would love to hear about it's impact in all facets of real estate.Apologies if this is a repeat post, I haven't searched much on the forums for this yet.